Shiba Inu Coin History: A Timeline of Key Moments

What’s your favorite moment in SHIB history?

Shiba Inu looking back at the journey he accomploished from when he was a puppy.
Created by Gabor Kovacs from DailyCoin

Shiba Inu coin’s history is marked by peaks of euphoria and pits of despair. The crypto market is notorious for its wild volatility, and yet meme coins like SHIB offer a financial rollercoaster that makes heavyweights like Bitcoin (BTC) look like traditional stocks.

What are the key events in Shiba Inu’s history that stand out? Which iconic moments have signaled maximum enthusiasm or overwhelming dread in this meme coin’s story?

As we embark on a journey through the key moments of Shiba Inu’s history, we uncover a tale of audacity, innovation, and unrelenting community spirit, revealing how this once-underestimated token leaped from the shadows of obscurity to the bright lights of crypto fandom. 

The Shiba Inu Story

Shiba Inu Coin logo.
Source: Shiba Inu

The tale of Shiba Inu is one of intrigue and action, a story jam-packed with strategic developments, unexpected turns, and an unwavering commitment to community values. 


From its humble beginnings as an ERC-20 token on the Ethereum blockchain to the launch of its own decentralized exchange and the development of its blockchain, the Shiba Inu story is a rags-to-riches tale.

As we explore the timeline of Shiba Inu’s key moments, we’ll dig up what makes this coin such a unique phenomenon that has made Shiba Inu the powerhouse it is today.

Origins of Shiba Inu – August 2020

Following the historic DeFi summer of 2020 and its endless insider launches and private presales, a mysterious figure hatched a cunning plan. Conceived by the enigmatic figure known only as Ryoshi, Shiba Inu was discretely launched on the Ethereum (ETH) blockchain with just $3,000 USD in liquidity.


Ryoshi’s vision was simple but ambitious. He aimed to create a token that embodied the principles of decentralization and community engagement without the rigmarole often seen in the crypto space. 

Beyond being a social experiment, SHIB was nicknamed the ‘Dogecoin Killer,’ teased as an ultimate threat to the original Japanese hunting dog meme, Dogecoin (DOGE).

With a staggering total supply of one quadrillion tokens, Ryoshi sent roughly half of all SHIB tokens to Vitalik Buterin, the founder of Ethereum.

Vitalik Burns and Donates SHIB – May 2021

Spurred on by the Shib Army, a devout group of passionate community loyalists, SHIB slowly made a name for itself in the meme token community. In May 2021, the Shiba Inu story took its first dramatic turn, marked by the actions of Ethereum’s prodigious co-founder, Vitalik Buterin. 

Vitalik Buterin in a conference.
Source: Forbes

A true champion of decentralization, Buterin didn’t want to hold such a significant influence on Shiba Inu’s growth. In a move that shocked the crypto community, Buterin burned a significant portion of his SHIB holdings and permanently removed them from the token’s circulating supply. At SHIB’s all-time high, these holdings were worth billions.

But that wasn’t the end of Vitalik’s involvement. The philanthropic founder also donated over $1 billion in SHIB tokens to the India Covid Relief Fund, marking it as one of the largest cryptocurrency donations in history.

Ryoshi’s Departure – May 2021

For Shiba Inu, the wild times were only beginning. In a month marked by significant shifts and revelations, May 2021 witnessed another cataclysmic event. After creating the meme coin less than a year earlier, Ryoshi vanished from social media and left Shiba Inu’s future in the paws of the SHIB Army. 

At first glance, Ryoshi’s disappearance looked like another classic crypto rug pull. But despite the odds, the Shib Army rallied. Led by Shytoshi Kusama, the Shiba Inu token community got back on its feet and set out to realize Ryoshi’s vision. 

Looking back, it seems that Ryoshi’s departure was not an abandonment of his project. Shiba Inu had successfully become a community-driven and managed cryptocurrency project, just as the mysterious founder had always intended.

ShibaSwap Launch – July 2021

Shytoshi Kusama wasted no time in making his leadership felt and recognized. He began building ShibaSwap, a DeFi application and the first major product in the Shiba Inu ecosystem.

ShibaSwap’s debut was met with enthusiasm from the Shib Army and the broader crypto community, showcasing Shiba Inu’s potential beyond a meme token. 

The decentralized exchange provided a gateway for users to explore the DeFi landscape, swap ERC-20 tokens, and earn rewards, all while contributing to the growth and stability of the Shiba Inu ecosystem. It also served as the launching point for decentralized governance and BONE, another altcoin in the Shiba Inu ecosystem.

Shiboshi Launch – October 2021

Following the success of ShibaSwap, the SHIB Army pushed on from success to success. Leaving no stone unturned, they ventured next into the burgeoning world of non-fungible tokens with the launch of the Shiboshi NFT collection. 

Shiboshis on OpenSea.
Source: Opensea

The Shiboshi launch was met with overwhelming enthusiasm, with the entire collection selling out in just 34 minutes, highlighting the immense demand and the community’s excitement to support Shiba Inu’s expansion into the NFT space. 

Alongside being unique art pieces, these digital collectibles held intrinsic value within the Shiba Inu ecosystem, serving as playable characters in upcoming NFT games and offering additional utility to their holders.

DoggyDAO Launch – February 2022

As a new year dawned, Shiba Inu’s governance model was formed. Playfully named the DoggyDAO, this decentralized autonomous organization (DAO) is responsible for the Shiba Inu ecosystem’s strategic decisions and future development.

DoggyDAO represented a leap towards true decentralization and community-driven innovation. SHIB holders were allowed to propose, discuss, and vote on various initiatives, projects, and enhancements, fostering a sense of collective ownership. They shared responsibility in shaping the future of Shiba Inu.

Robinhood Listing – April 2022

April 2022 brought enthusiasm and anticipation as Shiba Inu notched yet another monumental milestone. SHIB was finally getting listed on Robinhood, one of the world’s most popular trading exchanges. 

The announcement of SHIB’s availability on Robinhood was met with excitement from the Shib Army and the wider crypto community. After sitting on the sidelines for months, ‘normal’ investors with limited crypto exposure could finally buy SHIB and join the SHIB Army.

As you’d expect, Shiba Inu’s price reacted positively to the listing, surging by 35% as retail investors clamored to get some SHIB in their wallets.

Shibarium PuppyNet – March 2023

The tail-end of 2022 passed without much fanfare. The crypto market was suffering the depths of the crypto winter, while the FTX collapse sent altcoins across the board to lows not seen in years.

Fortunately, this started to turn around again for Shiba Inu in March 2023 with the launch of Shibarium’s Puppynet. A testnet for Shiba Inu’s upcoming blockchain, PuppyNet provided a sandbox environment for developers and the community to explore, test, and refine the functionalities and features of Shibarium before its official release.

PuppyNet was met with eagerness and curiosity from the Shib Army, as it offered a glimpse into the potential of Shiba Inu’s own blockchain. Developers delved into the platform’s intricacies, identifying opportunities for optimization and ensuring the robustness and security of the network. 

Shibarium’s PuppyNet represented a significant step towards Shiba Inu’s aspiration to expand its ecosystem and enhance its offerings. While the testnet wasn’t quite the ‘real thing,’ it set the foundation for the biggest Shiba Inu product.

Shibarium Launch – August 2023

Emerging from the successful testing and refinement phase of Shibarium PuppyNet, Shibarium was unveiled as Shiba Inu’s dedicated Layer 2 blockchain, designed to address Ethereum’s scalability issues and finally give the SHIB Army a place to call home.

The launch of Shibarium was a moment of celebration and reflection for the Shib Army, as it represented the culmination of collective efforts, innovative thinking, and a shared vision for the future of Shiba Inu. 

The new blockchain platform opened up a realm of possibilities, enabling faster transactions, lower fees, and a conducive environment for developers to create and deploy myriad applications within the Shiba Inu ecosystem.

In fact, the excitement proved to be more than Shytoshi Kusama and the development team could’ve anticipated. Shibarium’s launch was mired by overwhelming demand, which paused the network and caused millions of dollars worth of BONE and ETH to be locked in a bridging contract. 

Shibarium’s network issues were eventually rectified, and the network has since received over 1.4 M unique wallet addresses.

What’s Next for Shiba Inu?

Having achieved so much in such a short time is impressive, especially considering that Shiba Inu was originally dismissed as a mere meme coin. The next question is obvious: Where does Shiba Inu go from here?

One of the most anticipated developments in Shiba Inu’s journey is the exploration and creation of its very own Metaverse. The Shiba Inu metaverse promises to be a virtual universe where the Shiba Inu community can play together, network, and create a thriving digital asset economy in fun new ways.

Envisioned as a vibrant and immersive digital space, the Shib Metaverse aims to offer a dizzying range of experiences, from virtual events and gatherings to gaming and passive income opportunities, all within a decentralized and community-driven framework.

On the Flipside

  • Of all the products and services Shiba Inu has built, none are truly groundbreaking or unique. ShibaSwap and Shibarium were both essentially forked from existing platforms and algorithms, meaning that Shiba Inu isn’t providing anything new for the industry. 

Why This Matters

Despite not having built anything original, Shiba Inu has captured the hearts of millions of crypto enthusiasts and grown from a humble meme coin into a diverse and popular ecosystem.


How much was Shiba Inu coin when it started?

When Ryoshi launched Shiba Inu coin back in August 2020, the price history indicates that 1 SHIB token was worth $0.000000000056.

Where can I buy Shiba Inu?

You can buy SHIB and other altcoins like Cardano (ADA) and Solana (SOL) on crypto exchanges like Binance, Coinbase, and Huobi.

Where can I track SHIB’s price?

You can track Shiba Inu’s real-time price and other relevant information like market cap, tokenomics, and historical data on CoinMarketCap.

Does Elon Musk own any SHIB?

According to tweets/posts from his own 𝕏 account, Elon Musk owns no SHIB.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Finn Miller

Finn Miller is a New Zealand-based blockchain writer for DailyCoin who specializes in simplifying complex blockchain topics. He is experienced in crafting whitepapers, researching on-chain data, and advising emerging crypto projects, and uses his unconventional approach to learning and passion for knowledge to provide cornerstone educational content for readers of all levels. When not exploring the depths of DeFi, Finn can be found exploring his other passion, the great outdoors.