Shiba Inu (SHIB) is often considered a meme coin that operates on the Ethereum blockchain. It was created in August 2020 by an anonymous person or group known as "Ryoshi." SHIB is named after the Shiba Inu dog breed from Japan, which is also the mascot of the popular cryptocurrency, Dogecoin.
SHIB is part of a larger ecosystem known as ShibaSwap, which includes other tokens like LEASH and BONE. ShibaSwap is a decentralized exchange (DEX) where users can stake, farm, buy, and sell SHIB and other tokens.
To enhance the use case of SHIB tokens, the Shiba Inu official launched the Ethereum Layer 2 network, Shibarium, on August 17, 2023. It will focus on DeFi and gaming, and will use SHIB tokens as gas fees. However, the fact that it stopped producing blocks twice in less than 24 hours has raised doubts. On August 24, Shibarium resumed block production. If it can run smoothly for a long time this time, it will bring more users to the Shiba ecosystem.
Above are only for introduction, not intended as investment advice.