1. Introduction

Introduction of Shiba Inu Coin

1.1 Shiba Inu Coin

Shiba Inu token is a decentralized cryptocurrency created in August 2020 by an anonymous person known as "Ryoshi". It is named after the Shiba Inu (柴犬), a Japanese breed of dog originating in the Chūbu region, the same breed that is depicted in Dogecoin's symbol, itself originally a satirical cryptocurrency based on the Doge meme. Shiba Inu was developed as the answer to a simple question: "What would happen if a cryptocurrency project was 100% run by its community?" Its founder Ryoshi attributes its origins to an "experiment in decentralized spontaneous community building." According to Ryoshi, the power of collective decentralization can build something stronger than a centralized team ever could create.

1.2 The Shiba Inu Coin oversupply problem

Nobody Can Agree On The Shiba Inu Coin Circulating Supply, And It's A Huge Problem.

Shiba Inu’s initial supply was just short of 1 quadrillion tokens, which hinders the ability of capital inflow to impact the token price positively.

The Shiba Inu community has its sights set on a $0.01 token price. But to achieve this based on its current circulating token supply, the SHIB market cap would need to be just under $5.5 trillion, equating to more than 5.5 times the existing total market cap.