Select what genuinely interests you. Your picks feed directly into our editorial planning. Shiba Inu is a memecoin on the Ethereum blockchain that launched in August 2020 as a tongue-in-cheek rival to Dogecoin and now supports a small ecosystem of its own. The token is called SHIB and follows the ERC-20 standard. Around it, a dedicated layer-2 blockchain called Shibarium, the ShibaSwap exchange and the side tokens BONE, LEASH and TREAT have emerged. Anyone asking what Shiba Inu is therefore has to separate two things: the coin, whose price runs almost entirely on sentiment, and the network around it, which has so far seen little use.