Dog Cryptocurrency Shiba Inu (SHIB) is now five years old. Shiba Inu was released on August 1, 2020 and had an initial supply of 1 Quadrillion Token.
Since its inception, the Shiba Inu Burn strategy aims to reduce the large supply of tokens and increase long-term value. According to Shibburn, a total of 410,752,071,267,334 SHIBs have been burned from the initial supply of SHIBA INU, accounting for more than 41%.
What contributes to this huge figure is the massive burns that Vitalik Buterin, co-founder of Ethereum.
In May 2021, Vitalik Buterin surprised the crypto community by burning 410 trillion shibs and donating 50 trillion shibs (worth $1.2 billion at the time) with one of the biggest charity laws in the history of the code. Butarin was surprisingly talented for half the supply of Sheeva dogs, burning 90% of that, totaling $6.7 billion at the time.
Shiba Inu’s deflation trend continues: 1,102,997 shivs have been burned in the last 24 hours, with 629,718,781 shivs burning over the past 7 days.
Shiba Inu will be 5 years old
Shiv, launched in August 2020 with liquidity of just $3,000, was amortized as “just another dog token.”
By October 2021, it had risen about 150,000 times to an ATH of $0.000088, temporarily surpassing Dogecoin’s market value and entered the top 10 cryptocurrencies.
In 2021, Shiv became mainstream, being accepted by retailers like Newegg for payments, and listed in Vinanence (May 2021) and Coinbase (September 2021). In July 2021, Shiv’s decentralized exchange, Shiv’s Shiv’s Wapp was launched. Shibaswap (DEX) was released on Mainnet in December 2021, with leashes and bones added.
Shiba Inu was listed on Robinhood in April 2022, and in October of the same year, Shiba Eternity, the mobile card game for Shiba Inu, was launched globally. Shiba inu layer-2 blockchain Shibarium was released on Mainnet in August 2023.