The Shiba Inu team has reaffirmed that the « experiment will continue » as the meme coin approaches its sixth anniversary. SHIB’s price has surged approximately 20% in one week, making it one of the best-performing tokens in the top 30. Despite this rally, the token remains down roughly 95% from its October 2021 all-time high. Launched on August 1, 2020, by anonymous developer Ryoshi, the memecoin gained mainstream attention in May 2021 when Vitalik Buterin burned 41% of the supply and donated 50 trillion tokens. The token now struggles with excessive supply, lack of real-world utility, and memecoin market saturation.
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