What is Shiba Inu
Shiba Inu (SHIB) is a meme token created in August 2020 by an anonymous developer known as Ryoshi. The project was conceived as a response to Dogecoin and even called itself the “Dogecoin killer”, choosing the same dog breed — the Shiba Inu — as its symbol. Unlike Dogecoin, which has its own blockchain, SHIB is an ERC20 token on the Ethereum network.
The total SHIB supply is around a quadrillion tokens, so the price of a single token is a fraction of a cent and amounts are usually measured in millions. A large community and ecosystem have grown around the token: the ShibaSwap decentralised exchange, the BONE and LEASH tokens and its own layer-2 network, Shibarium. The founders sent a large share of the SHIB supply to Vitalik Buterin, who burned most of it and donated part to charity.
Key facts
| Parameter | Value |
|---|---|
| Ticker | SHIB |
| Network at ROVEN exchange | Ethereum (ERC20) |
| Address format | “0x” plus 40 characters |
| Block time | About 12 seconds |
| Total supply | About 1 quadrillion SHIB, part of it burned |
| Network fee | Gas paid in ETH |
| Memo / tag | Not needed |
What Shiba Inu is used for
- Trading and speculation. SHIB is one of the most popular meme tokens, with high volatility.
- The Shiba ecosystem. The token is used in ShibaSwap and community projects.
- Payments. Some services and shops accept SHIB.
- Community. For many holders, SHIB is a way to be part of a large crypto community.
How to exchange Shiba Inu at ROVEN exchange
- Choose a direction, for example SHIB → USDT TRC20 or USDT TRC20 → SHIB, and enter the amount.
- If you’re receiving SHIB, enter an Ethereum address starting with “0x”.
- Create the order — the rate is locked for 30 minutes — and send the exact SHIB amount on Ethereum to the address in the order.
- Ethereum produces a block roughly every 12 seconds, so a swap usually takes 5–15 minutes.
What to watch out for
- Sending SHIB requires ETH to pay for gas. Without it, the tokens can’t be sent.
- At ROVEN exchange, SHIB is accepted and paid out on Ethereum (ERC20). Don’t send SHIB from Shibarium, BNB Smart Chain or other networks.
- SHIB amounts are very large — double-check the number of zeros when entering them.
- Only add the token to your wallet using the official contract: there are many fake tokens with the same name.
The Shiba Inu ecosystem
Over time an entire ecosystem has grown around SHIB. ShibaSwap is a decentralised exchange where you can swap tokens and earn rewards for providing liquidity. BONE is used for governance and to pay gas on Shibarium, while LEASH is a low-supply token. Shibarium is a layer-2 network for Ethereum built to lower fees for operations with the ecosystem’s tokens. For a swap at ROVEN exchange, only the SHIB version on Ethereum mainnet matters.
How to store Shiba Inu
SHIB can be stored in any Ethereum wallet: MetaMask, Trust Wallet, Rabby, and the Ledger and Trezor hardware wallets. If the token isn’t displayed automatically, add it using the official contract address. Keep your seed phrase offline.
Frequently asked questions
Why can’t I send SHIB?
Most likely the wallet has no ETH to pay for gas. Top it up with a small amount of ETH and try the transfer again.
Can I send SHIB from the Shibarium network?
No. For a swap, send SHIB on Ethereum only — transfers from other networks won’t be credited automatically.
Does SHIB need a memo?
No. Every recipient has their own address; no memo is used.