Shiba Inu is a decentralized cryptocurrency created in August 2020 by an anonymous individual or group using the pseudonym "Ryucoin." The name "Shiba Inu" is a reference to the Shiba Inu dog breed, which is featured on the coin's logo.

Shiba Inu is built on the Ethereum blockchain, it uses the ERC-20 standard, which means it can be stored in any wallet that supports Ethereum-based tokens. This also means it can take advantage of the growing ecosystem of decentralized finance (DeFi) applications built on Ethereum.

Shiba Inu has a unique token distribution mechanism called "Shiba Swap," which rewards holders of the coin with additional tokens. This incentivizes long-term holding and helps to distribute the token more widely. The distribution mechanism is based on a smart contract that automatically mints new tokens and sends them to holders of the coin.

Shiba Inu also strongly focuses on community-driven development, with decisions about the coin's future direction made through decentralized governance. This allows holders of the coin to vote on proposals for using the funds generated by the token's appreciation.

One of the most notable features of Shiba Inu is its high total supply of 1 quadrillion coins, which is much higher than most other cryptocurrencies. This means that the value of each individual coin is relatively low, making it more accessible to a broader range of people.

Shiba Inu has gained much attention in the crypto community due to its novel token distribution and community governance approach. However, it's worth mentioning that due to the high total supply, the price of Shiba Inu can be highly volatile, and it's essential to do your own research before investing in any cryptocurrency.

Overall, Shiba Inu is a unique and innovative cryptocurrency that has gained much attention in the crypto community. Its focus on community-driven development, decentralized governance, and token distribution mechanism sets it apart from other cryptocurrencies and makes it an exciting project to watch.