Beyond the meme and into the technology of Shiba Inu and its ramifications

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Shiba Inu may have been dismissed as “another flashy meme coin”, which is partly justifiable since new names continuously make it into glamorous headlines that swear by their potential.

But, within a remarkably short period, it managed to gain the appellative of the “Dogecoin killer”, which is a remarkable feat considering that Dogecoin (DOGE) is the first meme coin ever, the face of this asset category – the holy grail of meme coins.

Shiba Inu now boasts a thriving community, a decentralized ecosystem, and some captivating tech underpinnings. The hype is often louder than the tech properties, especially in this asset category, which is known to have mockery as a fundamental support element.

But Shiba Inu’s story has demonstrated there’s more to digital currencies built on viral jokes than meets the eye. It’s how it made its way onto the world’s largest cryptocurrencies, thriving on the most trusted blockchain around, Ethereum.

Understanding what powers the Shiba Inu coin reveals why it has captured the attention of both retail and institutional crypto enthusiasts, so let’s go, shall we?

Three cryptos

The Shiba Inu network includes three cryptos, each being ERC-20 tokens developed on Ethereum: 

Shiba Inu (SHIB) – Shiba Inu ecosystem’s leading token, this came with a huge supply of 1 quadrillion coins before Ethereum’s founder Vitalik Buterin burned an impressive 410 trillion.

The initial figure had no less than 24 zeros. Shiba Inu owners can stake digital assets – or, as the platform puts it, “bury” them to earn rewards in its subordinate token, BONE.

On ShibaSwap, SHIB stakers can also receive 0.1% of all transaction fees for Ethereum exchanges.

Leash Dogecoin Killer (LEASH) – LEASH is the Shiba Inu ecosystem’s 2nd token, trading at a high price because its supply of 107,646 tokens is very small, making the coins rarer. LEASH holders can stake LEASH to earn BONE tokens. 

Bone (BONE) – The third token in Shiba Inu’s ecosystem, BONE has a capped supply of 250MN tokens, a design meant to foster scarcity and long-term value.

It also serves as the network’s gas and governance token, enabling voters to participate in decision-making on ecosystem development and protocol changes.

Non-fungible tokens (NFTs) and mobile games

NFT enthusiasts can swap tokens, provide liquidity, and earn rewards on Shiboshis, the NFT marketplace offered by ShibaSwap.

The NFTs are pixelated comics featuring Shiba Inu dogs, each with unique attributes. Moreover, the team deployed a game named Shiba Eternity, available on Google Play.

The game involves collecting cute cards to personalize the deck and training Shiboshis. Another game from Shiba Inu is Shiboshi Rush, in which Shiboshis fight to kill the Shadowcat antagonist.

From fun to strategy, Shiba Inu boasts quite a few feats.

Shiba Inu ecosystem growth

Shiba Inu was once discredited for being another, low-potential meme coin, but it quickly turned into a comprehensive digital ecosystem boasting multiple utility layers.

Crypto enthusiasts now have a decentralized exchange named ShibaSwap, metaverse projects, and non-fungible token integrations, to name a few.

Initiatives like Shibarium, SHIB: The Metaverse, and the SHIB Burn Portal have added complexity to the project and transformed speculation into participation, catapulting it beyond the usual internet hype that surrounds many meme coins.

Shiba Inu advantages

Shiba Inu may have numerous features in common with other cryptos, but its advantages deserve their fair share of recognition: 

• High affordability (low price compared to the prices of ETH, XRP, LTC, for instance);
• A solid, devoted community that supports the coin
• Compatibility with the Ethereum network; 
• Availability on the bulk of big exchanges;
• Popularity and high trading volumes.

Shiba Inu downsides

Obviously, not everything in crypto plays out the way we hope. Shiba Inu has its own challenges; here’s what to watch out for:

• Not too much global adoption compared to other coins;
• Limited exclusive features compared to other tokens;
• Volatile price fluctuations in SHIB.

Who founded Shiba Inu?

Shiba Inu shares a similar story to Bitcoin – no one knows exactly who founded these projects. It’s known that an anonymous group of developers named Satoshi Nakamoto developed Bitcoin, but no one knows who they actually are – it’s pure speculation on the internet.

SHIB’s roots are similarly mysterious. “Ryoshi” is the designation of the developer or group of devs who created the crypto.

Unlike Ethereum and other blockchain projects, it doesn’t have a popular creator. However, it’s known that Shytoshi Kusama is now leading the project.

The project was an experimental token at first, inspired by the meme crypto trend that gained worldwide traction, before turning into the huge ecosystem it is today.

From woof to bonefolio

For crypto buffs, the fact that meme coins deny traditional norms and protocols is one of the biggest draws. Part of this appeal is mirrored in the many canine terms that make up crypto’s slang.

Enter this world and you’ll come across terms like “fetch” (to trade tokens), “bury” (to stake tokens), and “dig” (provide liquidity). Coins involved in such activities yield “Woof” returns in BONE, and enter “Puppy Pools” token pools, the woof paper suggests.

In the conventional financial space, you have serious financial terms like liquidity, profit margin, efficiency ratios, leverage ratios, and return on investment.

In meme coin worlds, however, you have whatever works and resonates with the broader community. ShibaSwap analytics, for instance, are identified as BONEFOLIO.

Shiba Inu’s future plans?

On the first of August, 2025, Shiba Inu celebrated half a decade of existence. The project has garnered over 1.5MN wallet holders to date, an achievement that wouldn’t have been possible without the growing number of ecosystem collaborators, such as ShibaSwap and Shibarium.

What’s about to come seems to be even more thrilling. The Shiba Inu team announced plans to expand the project into a completely practical cryptocurrency ecosystem with real-world use cases.

You can expect a Layer-3 blockchain in the future that won’t just slash transaction fees and boost throughput, but also introduce fresh security and privacy features, alongside heightened scalability for ecosystem applications.

Clearly, the team and community behind Shiba Inu have quite a lot on their plate these days.