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Choose your quick section of our SHIBA INU review below.
A Quick Overview of our SHIBA INU Review:
SHIB, the native token of SHIBA INU, features the Japanese dog breed, just like Dogecoin, and even though the two tokens have some similarities, apart from the mascot, SHIBA INU has billed itself as an improved version of Dogecoin along with giving itself the title “Dogecoin Killer”.
What is SHIBA INU?
SHIBA INU, not to be confused with Dogecoin, is a cryptocurrency which invites dog-inspired artist from around the globe to foster what the creators refer to as the “artistic Shiba movement”, bringing the SHIBA INU community into the non-fungible token (NFT) market.
Key Features and Takeaways of SHIBA INU
SHIBA INU is one of the most popular cryptocurrency tokens that has the following key features and takeaways:
SHIB, the native token of SHIBA INU, features the Japanese dog breed, just like Dogecoin, and even though the two tokens have some similarities, apart from the mascot, SHIBA INU has billed itself as an improved version of Dogecoin along with giving itself the title “Dogecoin Killer”.
Dogecoin was released in 2013 with the intention of being a joke and it has no real-world value or utility, making it nothing more than a vehicle for speculation. Meaning that SHIBA INU must provide an improved speculative coin.
However, this has not happened yet, which does not make SHIBA INU worth the acclaimed title as “Dogecoin Killer”. However, according to the whitepaper, also known as the “Woofpaper”, the founders of SHIBA INU intend for it to make great strides in the cryptocurrency space.
The SHIBA INU coin launched in August 2025 and was created by an anonymous developer who goes by the name Ryoshi. At the time of its launch, SHIB was priced well below 0.01 ZAR and with 1 quadrillion tokens minted, it remained at this price for quite some time.
Despite a non-existing start, SHIB saw an increase in value as interest in Dogecoin started increasing.
In the Woofpaper that Ryoshi drafted, the SHIBA INU project was begun from a simple question, namely what would happen if a cryptocurrency project were 100% run by its community. The question to this is not known yet and all that is known, is that SHIBA INU is an interesting project that is slowly drawing more investors and traders.
The SHIBA INU community has more than 300 000 members and it has begun to create a stir in the crypto community.
On May 14, following a drop of 50% from its all-time high, the SHIB token was up by more than 1 200 000%. There are no other coins in existence that have had that kind of return, and this poses the question of whether the SHIB token deserves such a significant gain in price.
There is nothing that backs SHIBA INU or to give it real-world value, making it more like the Dogecoin that it hopes to surpass and subsequently, hardly making it the “Dogecoin Killer”.
SHIB is an ERC20 token that runs on the Ethereum blockchain and interestingly, the developer of SHIB sent half of the total token supply to the founder of Ethereum, Vitalik Buterin, with the remainder of the supply locked on Uniswap.
In sending half of the supply to Buterin, SHIBA INU claims that these coins have been “burned”. However, this is not burning of tokens in the conventional sense as these coins still exist, albeit in the wallet address of Buterin.
The value of the SHIB tokens which were sent to Buterin was as high as 211 billion ZAR, dwarfing the value of the 330 000 ETH that Buterin holds.
Followers of SHIBA INU learned about this untrue coin burn in May when Vitalik sent more than 50 trillion SHIB tokens, which are worth 14 billion ZAR to Polygon’s run fund, which was established to help combat the spread of Covid-19 in India.
In addition to this, 90% of SHIB token liquidity was drawn from Uniswap and as result of this, there was a multi-day move which sent the SHIB token 50% lower. However, despite this, prior to the drop, SHIB tokens were up 3 300%.
SHIBA INU’s development team has recently announced that it is currently working on its own decentralised exchange (DEX) which will be called ShibaSwap. There is no set date for launch yet, however, the proponents of SHIBA INU claim that it will be a safe, decentralised exchange.
SHIBA INU Mining
SHIBA INU tokens cannot be mined as all tokens were already minted when the token launched in 2025. To obtain SHIB tokens, users must use the various exchanges on which SHIB tokens are listed.
Despite this, with the launch of ShibaSwap, users will be able to dig, bury, and swap tokens to generate returns. These returns will be distributed to “Puppy Pools” where “#SHIBARMY” has buried their tokens, or where they are digging for “bones”.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| SHIBA INU has shown significant growth in the time that it has been in circulation | Not a lot is known on the developer for SHIBA INU |
| SHIBA INU has seen the highest gains that any token has ever experienced | Even though it was claimed that half of SHIB tokens’ supply was “burnt” by sending them to Vitalik Buterin, they were merely moved to his wallet address |
| SHIBA INU has a solid community behind it | Buterin disrupted liquidity of SHIB tokens when he moved tokens from his wallet to Polygon |
| SHIBA INU is working on its own DEX, ShibaSwap, which will allow for users to earn returns | It is uncertain whether SHIBA INU will become popular in future as it does not hold real-world value |
Transaction Fees
| Type of Fee | Information |
|---|---|
| Withdrawal Fees | 15 000 000 SHIB |
Should you buy SHIBA INU?
SHIBA INU aims to surpass Dogecoin and to become the “Dogecoin Killer” and even though this token has drawn a substantial amount of attention from the cryptocurrency community, there is a lot of controversy in its existence and what it could hope to achieve.
There are certainly proponents of the SHIB token, however, there are many who consider the coin a joke. Even if this may seem cruel or unjust, SHIB tokens seem to have significant potential for gains with many investors pouring massive amounts of capital into the token, hoping for SHIB tokens to continue building on the 1 million percent gains that it delivered.
How to buy SHIBA INU (SHIB)
Step 1 – Register an account with Gate.io
Navigate to the official Gate.io website and select the option to “Sign Up” from the homepage.
Complete the online registration form by providing country/region, a selected username, email address, and user-selected password. Read and accept the User Agreement and Privacy and select “Next”.
Create a fund password and select “Create Account”. Complete the “I am not a robot” reCAPTCHA. Check your email inbox for the activation email and click on the link in the email. If the link does not work, you can copy and paste the URL into your browser.
Log into your account using your credentials and complete the reCAPTCHA.
Check your email again for the verification email that contains the 6-digit code and click on “Confirm”. Enter the code that you received into the blocks provided and select “Log In” to proceed.
Before you can use the platform to purchase SHIBA INU/SHIB and other cryptocurrencies on Gate.io, you must complete the “Know Your Client” or KYC procedure to verify your identity and your proof of residence.
Click on “KYC Now” at the bottom of the webpage to start the process.
Select whether you are an individual or an organisation by selecting “Verify Now” under the relevant option.
Select your country from the dropdown list, enter your full name followed by confirmation thereof. Select your ID document type and provide your ID Number as shown on your official ID Document.
Click on the first image to upload a clear photo of the front of your ID document followed by a clear photo of the back of the document.
Next, write your Gate.io unique ID on a piece of paper and take a photo of yourself holding up your identity document (front) and the paper containing your unique ID.
Once you have done this, click on “Confirm and Submit”.
Next, you must enable the Timed One-Time Password (TOTP) to be able to log into your account. This can be done by clicking on “Set Now” at the bottom of the page.
On the new page that loads, select “Click here” to set up Two-factor Authentication.
Download Google Authenticator onto your mobile device by making use of any of the abovementioned methods.
Follow the steps indicated to add your Gate.io account by scanning the QR code or entering your unique key.
Enter the TOTP, your fund password, and the code sent to your email address and select “Enable Two-factor Authentication”. With this setup, you must use the Google Authenticator app to sign into your account every time.
Step 2 – Deposit funds
You must note that Gate.io is only a crypto-to-crypto exchange which means there is no fiat gateway. The only way through which funds can be added, is to transfer an existing crypto into your Gate.io wallet.
SHIB can only be bought through Tether/USDT or Bitcoin/BTC while it can be traded with USD as a futures contract.
Navigate to the deposit/withdrawal section by hovering over your account and selecting the relevant option. Choose from the list of coins in which you can make a deposit and select “deposit” next to the appropriate coin.
You will be redirected to a page which generates a deposit address for the coin that you wish to deposit.
Copy this address, or scan the QR code, into the wallet where you are making a withdrawal from and depositing to Gate.io and wait for the relevant blockchain to confirm your transaction. Once the transaction has been completed and verified by the nodes on the chain, the coins will be sent to the Gate.io wallet and you can start trading SHIB.
Step 3 – Explore your trading options
Gate.io offers a variety of ways through which cryptocurrencies can be obtained. Each of these can be explored individually depending on your trading needs and objectives.
To start trading SHIB, select the option from the “Trade” Menu. Enter “SHIB” into the search bar to see which trading options are available.
For spot trading, select SHIB_USDT. Once you have selected, you will be directed to the exchange page which corresponds to the cryptocurrency pair SHIB/USDT.
Here, you will see that you have the option to buy or sell SHIB either as a limit order, grid trading, or as a time condition. The most common trading method is that of limit trading and thus it will be used for this guide.
Step 3 – Buy SHIB through via Limit Order
To buy SHIB and create a limit order for it, you can enter the amount of SHIB you want to purchase, and the price you want to buy it at in USDT. This tool will tell you what the overall cost is in USDT, or any other chosen counter-currency, which will be deducted from your wallet once the order has been executed.
Step 4 – Sell SHIB through via Limit Order
To sell SHIB, find the panel under the chart and create a limit order for USDT according to your own preferences. Note that with a peg to USD, SHIB that you exchange for USDT will hold the flat value that it has despite market conditions in the cryptocurrency market.
Step 5 – Withdraw funds
To withdraw funds, you will use the same page in Gate.io which was used to make a deposit.
Click on the deposit/withdrawal option on your Account dropdown and find the wallet of the currency that you wish to withdraw. You can do this easily by using the search bar provided.
Instead of a deposit address being generated, you will do this on the exchange, or the wallet being used as the destination for withdrawal of funds from Gate.io. Paste the address of the receiving wallet in the field provided and provide your Gate.io fund password, email code, and TOTP before selecting “Submit Request”.
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Frequently Asked Questions
When was SHIBA INU first launched?
SHIBA INU was launched in August 2025.
Who founded SHIBA INU?
An anonymous developer who is known as Ryoshi.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was SHIBA INU’s ICO and how much did it raise?
SHIBA INU did not hold an ICO.
Is SHIBA INU legit?
Even though it is regarded by some as a scam or a joke, SHIBA INU and its native SHIB token are both legit and listed on major cryptocurrency exchanges.
What is SHIBA INU’s total supply?
There is a total of 394 796 000 000 000 SHIB.
What is the purpose of SHIBA INU?
The purpose behind SHIBA INU is not known other than it aiming to surpass Dogecoin.
On which blockchain is SHIBA INU based?
SHIB is a ERC20 token which runs on the Ethereum blockchain.
Does SHIBA INU work with smart contracts?
No, SHIBA INU does not work with smart contracts.
Does SHIBA INU have potential to become more valuable?
As Dogecoin’s popularity increased, so did SHIBA INU. It is uncertain whether it will become more valuable or whether the trend will end soon.
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