**SHIB (Shib) Introduction**

​**1. Basic Concepts**
SHIB (Shiba Inu, Shib) is a **meme coin** based on the Ethereum blockchain, born in August 2020, created by anonymous developer 'Ryoshi'. It was inspired by Dogecoin and features a Japanese Shiba Inu as its symbol, emphasizing decentralized community and grassroots culture.
**2. Token Supply and Distribution**
- **Total Supply**: 1 quadrillion SHIB (1,000,000,000,000 SHIB), with no maximum deflation mechanism.
- **Initial Allocation**:
- 50% locked in Uniswap liquidity providing.
- 50% directly sent to the wallet of Ethereum founder Vitalik Buterin (V God).
- **V God's Action**: In May 2021, V God burned 90% of the SHIB (worth about 6.7 billion US dollars) he held, and donated the remaining 10% to the Indian COVID-19 relief fund and other charitable organizations, leading to a short-term crash in the price of SHIB.
**3. Community and Ecosystem**
- **SHIBArmy**: Active global community that drives project development through social media.
- **ShibaSwap**: Decentralized Exchange (DEX) that supports token trading, staking, and mining.
- **Shibarium**: Layer 2 expansion solution (testnet to be launched in 2023), aimed at reducing transaction fees.
- **Shiboshi NFTs**: NFT project that combines the concept of metaverse to expand ecological application scenarios.
​**4. Price Performance and Market Position**
- In 2021, driven by Musk's tweets, retail investor craze, and "counterculture" culture, the price skyrocketed a million times, and the market capitalization once ranked among the top 10 cryptocurrencies.
- The current (as of 2023) market value fluctuates greatly, maintaining at the level of several billion US dollars, and is one of the highest market value meme coins.
**5. Risks and Controversies**
- **High volatility**: It depends on market sentiment and speculation, and prices are easily influenced by celebrity statements.
- **Practical limitations**: The ecological applications are still in the early stage, and there are limited practical use cases.
- **Intense competition**: Facing the traffic competition of Dogecoin, Pepe and other meme coins.