Shiba Inu is a cryptocurrency that’s similarly themed to Dogecoin. However, the Shiba Inu token seeks to do much more than it’s doggy-themed counterpart. Since the token leverages Ethereum’s robust network, the token has created a DeFi ecosystem driven by their decentralized exchange, ShibaSwap.
Shiba Inu tokens are used on Shiba Inu’s “ShibaSwap” platform, where users can stake their tokens for interest via staking rewards. Also, ShibaSwap recently released its NFT platform, where users can collect Shiba Inu themed NFTs called Shibatoshis. All-in-all, there are 3 different tokens native to Shiba Inu’s platform: Shiba Inu (SHIB), Leash (LEASH) and Bone (BONE).
SHIB is the largest token by market capitalization, while BONE and LEASH have higher per-token prices due to the limited supply of these coins. As of October 2021, Shiba Inu has an enormous market cap of over $20 billion, ranking it as the 11th most valuable cryptocurrency by market cap.