Shiba Inu (CRYPTO: SHIB) is one of several dog-themed cryptocurrencies that came to prominence in the meme coin frenzy of 2021. Meme coins are often based on online jokes or prominent figures and can attract strong communities. They are also highly volatile, speculative, and often lack underlying value or use cases.

Shiba Inu has shown surprising staying power. Six years after its launch, it is still in the top 50 cryptocurrencies by market cap — even if it has fallen a whopping 93% from its all-time high. It also boasts more utility than some of its meme buddies, with a decentralized exchange where users can swap coins and tokens, a wallet, and acceptance by some retailers.