Shiba Inu Team Confirms Experiment Continues Amid Price Surge

The Shiba Inu (SHIB) team has confirmed that their experiment will continue despite the token's price surge. The price of SHIB jumped by around 20% within a week, making it one of the top-performing tokens in the top 30.

However, the current price is still down significantly from its peak in October 2021, when it reached a record high. Since then, the token's value has plummeted by roughly 95%

The experiment started on August 1, 2020, with the anonymous developer Ryoshi launching SHIB as an ERC-20 token on Ethereum. Half of the supply was sent to Vitalik Buterin, the creator of Ethereum, to demonstrate decentralization.

SHIB gained some attention in early 2021 before exploding into mainstream consciousness after Buterin burned 41% of the supply and donated 50 trillion tokens. The token's momentum eventually weakened, and it has been underperforming for over four years due to its large supply and lack of real-world utility.