$SHIB originally launched with a massive total supply of 1 quadrillion tokens. In May 2021, the anonymous creator known as "Ryoshi" made a bold move by transferring half of SHIB's total supply to Ethereum co-founder Vitalik Buterin. In an unexpected twist, Buterin burned 90% of these tokens, permanently removing them from circulation. The remaining 10% was donated to charity. However, there are currently no mechanisms, like burning or halving, in place to further reduce SHIB's supply.
SHIB has been among the most volatile crypto assets in 2021. Its first major price surge began on May 11, with a stunning 1,953% rise from $0.00000172 to $0.00003532. However, this spike was short-lived, and SHIB's price quickly fell to $0.00000793 within three weeks.
After several months of stagnant trading, SHIB experienced a sharp increase starting on October 2, 2021, moving from $0.00000766 to $0.00002913 by October 13. Just two weeks later, SHIB hit its all-time high of $0.000089 on October 28, before experiencing another market correction.