The world of cryptocurrency is no stranger to sudden surges and viral trends, but few have captured the public’s imagination quite like SHIB, commonly known as Shiba Inu Coin. Once overshadowed by Dogecoin — another meme-inspired digital asset — SHIB has rapidly climbed the ranks, drawing massive attention from retail investors, especially younger ones chasing high-risk, high-reward opportunities.
In early May, SHIB surged over 236% in just 24 hours, briefly peaking at a staggering 251% increase. Trading volume reached an impressive $4.03 billion, propelling it onto China’s Weibo trending topics list. At one point, the Shiba Inu Coin discussion even surpassed Dogecoin in popularity on social media platforms.
👉 Discover how real investors are navigating the SHIB wave today.
The Binance Listing That Shook the Market
On May 10, SHIB was officially listed on Binance, one of the largest and most influential cryptocurrency exchanges globally. Within just ten minutes of going live, its price soared over 100%, triggering a temporary suspension of withdrawal services due to system overload. Binance quickly addressed the issue, restoring full functionality shortly after with a public update: “All withdrawals have been restored. Thank you for your patience.”
Despite the volatility, market momentum remained strong. According to CoinMarketCap data, SHIB recorded a 117.62% gain within 24 hours on May 11. Although gains later cooled to around 3%, trading volume continued to climb — up more than 260% — signaling sustained interest and active participation.
Why Is Shiba Inu Coin So Cheap?
One of the most compelling aspects of SHIB is its extremely low price per token. Even at its peak, one SHIB traded for only $0.000213 — meaning you could buy tens of thousands of tokens for less than the cost of a meal. This psychological pricing makes it highly accessible, especially to novice or budget-conscious investors.
Launched in August 2020, SHIB began with a total supply of one quadrillion (1,000 trillion) tokens. Unlike many other projects, it had no private or public sale; all tokens were made available exclusively through secondary markets. As an ERC-20 token built on the Ethereum blockchain, SHIB supports ultra-low prices while enabling massive holdings — some users own billions or even trillions of coins.
Known affectionately as the "Dogecoin Killer", SHIB was designed as a decentralized experiment driven entirely by community energy and grassroots engagement.
Elon Musk’s Influence and Viral Hype
No discussion about meme coins is complete without mentioning Elon Musk. His tweets have repeatedly moved entire markets — from Bitcoin to Dogecoin — and now SHIB appears to be riding the same wave.
On May 7, Hiromichi Mizuno, Tesla's independent director and former chief investment officer of a Japanese pension fund, joked on social media:
“Investors can trade Shiba Inu coin short-term, but don’t do the same with your actual Shiba Inu pet dog.”
Musk swiftly replied:
“I’m looking for a Shiba Inu.”
This brief exchange sent shockwaves across crypto communities, amplifying visibility and speculation around SHIB. While Musk hasn’t endorsed SHIB directly, his affinity for dogs and meme culture continues to fuel investor sentiment.
Strong Community, Rapid Growth
SHIB isn’t just hype — it has a growing ecosystem and dedicated community. Its official Twitter account boasts over 66,000 followers, while its Telegram group exceeds 73,000 members. With increasing media coverage and listings on more than 30 exchanges, including OKX and Binance, adoption is accelerating.
In fact, after being listed on OKEx (now part of OKX), SHIB’s price surged over 6x within three days. From its initial near-zero value, it climbed over 156x in three months, capturing the attention of traders seeking explosive returns.
Real Stories: From Windfalls to Warnings
Not everyone walks away a winner. While some celebrate huge gains, others face steep losses.
One investor shared with China Securities Journal that they turned 20,000 yuan (~$2,800)** into **140,000 yuan (~$19,600) in a single afternoon through short-term trading — a 7x return. Another claimed to have turned 3,000 yuan into 600,000 yuan, exclaiming:
“In crypto, opportunities are everywhere.”
But not all stories end well. Many warn that such rallies often precede sharp corrections. As one skeptical user put it:
“Buying SHIB is just waiting to be chopped like韭菜 (a common metaphor for retail investors being 'harvested' by whales).”
👉 Learn how to analyze market trends before jumping into volatile assets like SHIB.
The Rise of Animal-Themed Meme Coins
SHIB isn’t alone. A wave of animal-named altcoins — including Akita Inu (AKITA) and Pet Token (PET) — have emerged alongside it, riding the coattails of Dogecoin’s unprecedented rise. These tokens leverage playful branding and low entry costs to attract attention in crowded markets.
For young investors like Xiao Zhi, a recent graduate quoted by Securities Times, affordability is key:
“With just the cost of a lunch box, I can own tens of thousands of SHIB. Maybe I’ll make enough to cover a month’s meals — that’s exciting for anyone.”
This trend reflects a broader shift in how younger generations approach investing — favoring fast-paced, social-media-driven opportunities over traditional financial instruments.
Expert Warnings: High Risk Ahead
Despite the excitement, industry experts urge caution.
Ciara Sun, former Head of Assets at Huobi Global, noted that names and memes help these coins spread quickly — especially when amplified by figures like Musk. But she emphasized:
“When the market gets this hot, know your risk tolerance. Don’t participate thinking you’ll get rich overnight.”
Even central banks are sounding alarms. Andrew Bailey, Governor of the Bank of England, issued a blunt warning:
“Only invest in crypto if you’re prepared to lose all your money.”
He reiterated that cryptocurrencies like Bitcoin and SHIB lack intrinsic value:
“I’ve said it before — they don’t have any. That doesn’t mean people don’t assign value to them; they can have extrinsic value. But fundamentally? No.”
The UK’s Financial Conduct Authority (FCA) echoed this in January 2025, stating that crypto-related products are "extremely high risk" and investors should assume they may lose everything.
That said, Bailey acknowledged that current crypto volatility hasn’t yet threatened overall financial stability.
Frequently Asked Questions (FAQ)
Q: What is Shiba Inu Coin (SHIB)?
A: SHIB is a decentralized cryptocurrency launched in 2020 as an experiment in community-driven finance. Built on Ethereum as an ERC-20 token, it’s nicknamed the "Dogecoin Killer" and known for its low price and massive supply.
Q: Can you really make money with SHIB?
A: Some investors have seen significant short-term gains during rallies. However, prices are highly volatile and speculative. Long-term profitability remains uncertain.
Q: Why is SHIB so cheap per coin?
A: With a total supply of one quadrillion tokens, the individual unit price stays extremely low — making it psychologically appealing for mass ownership.
Q: Who controls Shiba Inu Coin?
A: It’s a decentralized project with no central authority. Development and governance are driven by the community.
Q: Is investing in meme coins safe?
A: Meme coins like SHIB carry high risk due to price manipulation, lack of fundamentals, and market speculation. They should only be approached with caution and proper research.
Q: How does Elon Musk influence SHIB’s price?
A: While Musk hasn’t directly promoted SHIB, his public comments about dogs and meme culture often trigger renewed interest in dog-themed cryptocurrencies.
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Final Thoughts
The meteoric rise of Shiba Inu Coin highlights both the power and peril of modern digital investing. Powered by social virality, celebrity mentions, and ultra-low pricing psychology, SHIB has become more than just a meme — it's a cultural phenomenon.
However, beneath the excitement lies serious risk. With no intrinsic value and extreme price swings, investors must approach with eyes wide open.
Whether you're drawn by the dream of quick profits or intrigued by decentralized communities shaping their own economies, remember this: in crypto, fortune favors the informed — not just the lucky.
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