Shiba Inu (code: SHIB), also known as Shiba Token, is a decentralized cryptocurrency created in August 2020 by an anonymous person known as "Ryoshi". Shiba Inu is an ERC-20 token on the Ethereum blockchain, and is based on Dogecoin; it brands itself "the Dogecoin killer".
The SHIB token does not have any smart contract utility, nor is it backed by any asset or rights; it is simply a transferable token.
Shiba Inu (柴犬) is a Japanese term for a breed of dog; it is the dog that is depicted in Dogecoin's symbol, which itself was originally a joke cryptocurrency based on the Doge meme.
Shiba Inu developers are currently in the process of creating Shibaswap, a decentralized exchange which provides holders of Shiba Inu, and its sister token Leash, the opportunity to earn rewards such as Bone, Etherum, and Bitcoin through staking or providing Liquidity.