Shiba Inu, also known as Shiba Token, is a decentralized cryptocurrency established by an unknown person or persons identified only as "Ryoshi" in August 2020.
The dog pictured in Dogecoin's emblem is a Shiba Inu, a Japanese word for a breed of dog. Dogecoin was created as a joke cryptocurrency based on the Doge meme. Vitalik Buterin gave more than 50 trillion SHIB (about $1 billion) to the India COVID-Crypto Relief Fund on May 13th.
Early in October 2021, the cryptocurrency saw a significant increase. Its value increased by 240 percent over the week following rumors of the opening of a decentralized exchange boosted its value by over 55 percent.