What is Shiba Inu and how does it work?

 Shiba Inu is one type of cryptocurrency, or digital currency, that is available only online. Its price soared in 2021, multiplying many times over, but still trades for tiny fractions of a cent. The year 2022 has been rough for Shiba Inu, with its price plummeting, but it still remains one of the world’s most popular cryptocurrencies, according to CoinMarketCap. But don’t get this coin confused with the Japanese dog breed that inspired its name.

Here’s what Shiba Inu is and what you need to know about how it works.

What is Shiba Inu?

Created in August 2020 by a founder called Ryoshi, Shiba Inu takes its moniker from the cuddly dog of the same name. And don’t get it confused with the similarly canine-themed Dogecoin, which features the same breed as its mascot. Instead, Shiba Inu calls itself a “Dogecoin killer.”