The meme coin that was handed to Vitalik 🐕
Shiba Inu launched in August 2020 from an anonymous founder called Ryoshi. The strange part: half of the 1 quadrillion supply was sent to Vitalik Buterin's wallet without him asking.
In May 2021 he gave 50 trillion SHIB (about $1.2B on paper) to India's Covid relief fund, and SHIB fell roughly 36% in a day per Forbes. Days later he burned 410.24 trillion SHIB, about 41% of all supply, saying he didn't want to be "a locus of power."
Then the mania. SHIB topped near $0.0000885 on Binance on Oct 28, 2021.
Today it trades near $0.00000444 on Binance, about 95% below that peak.
The lesson: the biggest burn in its history made headlines but didn't hold the price. Supply cuts only matter if demand stays, and meme coins run on attention that moves on fast.
$SHIB $DOGE
#ShibaInu #CryptoHistory #MemeCoins #CryptoLessons
Not financial advice.
Shiba Inu launched in August 2020 from an anonymous founder called Ryoshi. The strange part: half of the 1 quadrillion supply was sent to Vitalik Buterin's wallet without him asking.
In May 2021 he gave 50 trillion SHIB (about $1.2B on paper) to India's Covid relief fund, and SHIB fell roughly 36% in a day per Forbes. Days later he burned 410.24 trillion SHIB, about 41% of all supply, saying he didn't want to be "a locus of power."
Then the mania. SHIB topped near $0.0000885 on Binance on Oct 28, 2021.
Today it trades near $0.00000444 on Binance, about 95% below that peak.
The lesson: the biggest burn in its history made headlines but didn't hold the price. Supply cuts only matter if demand stays, and meme coins run on attention that moves on fast.
$SHIB $DOGE
#ShibaInu #CryptoHistory #MemeCoins #CryptoLessons
Not financial advice.
