Shiba Inu (SHIB) is an important coin in the crypto realm that has proven the immense potential of meme coins. The Shiba Inu Coin has humble beginnings, as no one expected this digital coin to grow so much. This occurs because, at first, the Shiba Inu Coin was more of an experiment that was inspired by the story of Dogecoin (DOGE). However, the evolution of Shiba Inu has become quite a phenomenon, and now it is one of the most popular digital coins, with a massive fanbase.
Shiba Inu is a meme coin, which means that it has a playful nature compared with other digital coins, which are usually associated with high complexity. Meme coins always capture the attention of the crypto community, and they start getting very popular online. The Shiba Inu Coin was developed in August 2020 by an anonymous person or group of people who went under the pseudonym of Ryoshi. At first, the creator saw SHIB as an experiment, but soon, its evolution catapulted this crypto to become one of the top meme coins. One of the reasons for its success is the fact that it managed to build a strong community that is always there to support the innovations of this digital coin.
There are many reasons why SHIB has risen to fame, and among the most important ones are participating in social media campaigns, endorsement from influencers, and tweets from celebrities.
However, to become among the most important meme coins, Shiba Inu has needed to undergo several milestones that impacted its evolution. In this article, we will explore the key moments from Shiba Inu’s evolution and the ones that helped this meme coin have a great trajectory that no one expected at first.
Let’s discover more!
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The launch of Shiba Inu (August 2020)
Shina Inu Coin was developed in August 2020 when Ryoshi wanted to experiment, following the footsteps of Dogecoin. Ryoshi is an enigmatic figure who launched the Shiba Inu Coin on the Ethereum blockchain as an ERC-20 token. Ryoshi didn’t want to revolutionize crypto space with the launch of this digital coin. Instead, it followed a simple yet ambitious plan that focused on a simple notion, such as community engagement and decentralization.
Soon after this, the Shiba Inu Coin was nicknamed “Dogecoin killer,” and in this way, it started to compete directly with Dogecoin for the first position in the meme coin space.
Vitalik Buterin and Shiba Inu (May 2021)
From the start, Ryoshi sent half of the SHIB tokens to Vitalik Buterin, the co-creator of Ethereum. Over this time, Shina Inu started to grow tremendously in popularity and became an important player with a massive community.
So, when Vitalik Buterin decided to burn a significant portion of SHIB, people remained quite shocked. Additionally, with this approach, the Shiba Inu Coin took a dramatic turn, and this meme coin had its all-time highs during this period.
Vitalik Buterin then continued its history with Shiba Inu and donated over $1 billion worth of SHIB tokens to the India COVID Relief Fund. This marked an essential position in Shiba Inu’s evolution, as it has remained one of the most important crypto donations up to this moment.
Letting the SHIB Army take over (May 2021)
May 2021 also brought another change for Shiba Inu, as it was during this time that Ryoshi, the creator of Shiba Inu, vanished from the landscape. So, the SHIB Army, the community of this digital coin, remained in control of the evolution of this meme coin. SHIB Army is one of the strongest communities in the entire crypto realm, and even though the creators stopped supporting the project, the Shiba Inu Coin wasn’t left in the hands of nobody; instead, it gathered even more attention.
Ryoshi wanted Shiba Inu to be a community-driven token from the first moments, and it helped this meme coin achieve this with his departure. Plus, Shytoshi Kusama took over the lead for Shiba Inu and helped this community help SHIB reach new heights.
ShibaSwap Launch (July 2021)
ShibaSwap is a DeFi application and the first major creation for the Shiba Inu community. Thanks to it, the SHIB Army could better explore the DeFi landscape while earning rewards and swapping their ERC-20 tokens. With it, BONE, another digital coin part of the Shiba Inu ecosystem, was created.
Shiboshi Launch (October 2021)
As Shiba Inu is a meme coin with the potential to create new memes, the community of this crypto saw its potential and decided to develop an NFT collection, Shiboshi. This project was a total success, as it was received with open arms and sold in only 34 minutes. This proves the big commitment of the SHIB Army, which is always here to support the evolution of this coin.
DoggyDAO Launch (February 2022)
February 2022 also marked a milestone in the evolution of Shiba Inu, as it was during this time that the DoggyDAO was launched. This was a decentralized autonomous organization (DAO) that was responsible for making strategic decisions regarding the future of the Shiba Inu Coin. Thanks to it, the SHIB holders could discuss, propose, and vote on important projects and improvements for this coin.
The launch of Shibarium (August 2023)
Before Shibarium was launched, Shiba Inu created the Shibarium PuppyNet, but it had some shortcomings, which led to the creation of this blockchain. Thanks to the creation of Shibarium, Shiba Inu solved some of Ethereum’s shortcomings, including the scalability issues, and made its way into personalization, where the SHIB Army could finally have a better environment to help this digital coin thrive.
This may be one of the prosperous moments in the evolution of the Shiba Inu Coin, as with this launch, Shiba Inu could finally collect all its merits and efforts. The new improvements brought by the blockchain were faster transactions, lower fees, and the possibility of creating more applications for this ecosystem.
The Shiba Inu Coin is a story of success. It didn’t reach its evolution overnight, but it had several milestones on its trajectory that made this digital coin the powerful meme coin it represents today.
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