Shiba Inu (SHIB) Exchange

Shibarium is Ethereum Layer 2 blockchain launched in August 2023, built to reduce gas costs for SHIB ecosystem transactions. Ethereum gas fees make small SHIB transactions impractical (gas could cost more than the SHIB being sent). Shibarium uses BONE as its gas token, and a portion of each Shibarium fee is converted to SHIB and permanently burned, creating an ongoing burn mechanic tied to Layer 2 activity.

Ryoshi (SHIB's creator) sent approximately 50% of SHIB's total supply — 500 trillion tokens — to Vitalik Buterin's public Ethereum address as an unsolicited gift. In May 2021, Buterin donated approximately 50 trillion SHIB to India's COVID-Crypto Relief Fund and burned the remaining approximately 410 trillion to a dead address. He stated he did not want influence over SHIB's governance and the burn was a way to permanently relinquish control over those tokens.

The SHIB burn address is a publicly known Ethereum address with no private key — meaning no one can control it and any SHIB sent there is permanently inaccessible. Tokens sent to the burn address are removed from active circulation permanently. Community members, protocols, and Shibarium's automatic fee-burn mechanism all contribute to ongoing SHIB burns. The cumulative burned total is tracked publicly on the Shibarium burn portal.

LEASH is the second token of the Shiba Inu ecosystem, capped at approximately 107,646 units — making it extremely scarce compared to SHIB's quadrillions. LEASH was originally designed as a rebase token tracking DOGE price, but the rebase mechanism was discontinued. LEASH now functions as a high-value, scarce collateral and staking asset within the ShibaSwap DEX and SHIB: The Metaverse land ownership system.

BONE is the governance token of ShibaSwap DEX and the gas token for Shibarium. BONE holders vote on ShibaSwap protocol upgrades and fee structures. BONE is also required to pay transaction fees on Shibarium. Unlike SHIB, BONE has a limited supply of approximately 250 million tokens. Shibarium validators must stake BONE to participate in block production.

ShibaSwap is the Shiba Inu ecosystem's decentralised exchange, launched in July 2021 on Ethereum mainnet. Users can swap SHIB, LEASH, BONE, and other ERC-20 tokens; provide liquidity to earn yield in BONE; and stake SHIB, LEASH, or BONE to earn rewards. ShibaSwap V2 was deployed on Shibarium to enable low-cost swaps outside of Ethereum's gas environment.

SHIB: The Metaverse is a virtual world project within the Shiba Inu ecosystem where land parcels are tokenised as NFTs and trade on secondary markets. Land plots were sold using SHIB, LEASH, and BONE tokens. The project includes planned play-to-earn games and virtual events for the ShibArmy community.

SHIB's all-time high was approximately $0.000088 in October 2021, at which point the market capitalisation reached approximately $40 billion. Even at the ATH price, the per-token value was a fraction of a cent due to the quadrillion-unit supply. Burns have reduced the circulating supply from approximately 1 quadrillion to approximately 589 trillion as of October 2026, and the per-token price remains far below one cent.

The ShibArmy is the self-organised community of SHIB holders and advocates. SHIB's price is strongly influenced by community-driven social media campaigns, coordinated buying events, and celebrity endorsements — more so than by DeFi usage metrics or protocol revenue. This is characteristic of meme coins: the narrative and community momentum are the primary price driver. Shibarium adoption and burns create a fundamentals layer, but social sentiment can override fundamentals in either direction on short timescales.

As of October 2026, approximately 411 trillion SHIB have been burned — roughly 41% of the original 1 quadrillion supply, based on the circulating supply of about 589 trillion reported by CoinGecko. This includes Vitalik Buterin's 410 trillion burn in May 2021, community manual burns, and ongoing Shibarium transaction fee burns. The total burned amount is publicly tracked at the Shibarium burn portal. The remaining circulating supply is approximately 589 trillion SHIB as of October 2026, though not all circulating SHIB is actively traded.

Go to swapzone.io/exchange/shiba-inu, enter the SHIB amount you want to send or receive, and compare live offers from exchange partners. Each offer shows the rate, estimated completion time, and KYC frequency label. Select the offer, enter your Ethereum destination address (ERC-20 SHIB), and send SHIB to the deposit address provided. No registration is required on Swapzone.