Shiba inu (SHIB) is one of the most popular meme-based cryptocurrency tokens, initially billed by its anonymous developer as the “dogecoin killer”.
After reaching record-highs in October 2021, this year the shiba coin has to navigate through bearish price action amid a wider cryptocurrency sell-off.
The memecoin’s coin availability and ownership concentration may be another factor driving its price. Yet how many shiba inu coins are there in the world? Here we take a look at the coin’s supply, how many shiba inu coins are available for trading or holding, and what it means for the price.
What is Shiba?
The community-driven project emerged in August 2020 as meme coins took off. The project has since developed into an ecosystem, including its ShibaSwap decentralised exchange (DEX), Shiboshi non-fungible tokens (NFTs), liquidity token LEASH and governance token BONE.
Unlike DOGE, which runs on a hard fork of the Litecoin (LTC) blockchain, SHIB runs on the Ethereum blockchain, conforming to the ERC-20 standard. Shiba developers are working on launching the Shibarium Layer 2 network protocol.
Layer 2 networks run on top of Layer 1 blockchains like Ethereum to enhance scalability, reduce processing times and cut transaction fees. Once Shibarium launches, SHIB tokens will be migrated to run on the protocol rather than on Ethereum directly.
The Unification Foundation, which is developing Shibarium, said in late June that the Shibarium Public Beta TestNet is planned to launch in the third quarter.
How many shiba inu coins are there?
The total number of shiba inu coins in circulation today is different from when the project launched in 2020.
The SHIB token was designed to have a maximum supply of one quadrillion tokens, which the developers said would allow users to hold billions or even…
