What is Shibacoin (SHIC)? How to Mine Shibacoin (SHIC)

Dogecoin and Shiba Inu are two popular meme coins often compared by users. However, their underlying structures differ significantly: DOGE is a Layer 1 blockchain based on a Proof-of-Work consensus mechanism, while SHIB is an ERC-20 token issued on Ethereum. In 2024, inspired by the unique characteristics of both DOGE and SHIB, developers created a new cryptocurrency—Shibacoin (SHIC).

This article provides a detailed overview of Shibacoin (SHIC), including its background, token distribution mechanism, earning potential, and mining methods, aiming to help miners and investors gain a comprehensive understanding of mining SHIC.

What is Shibacoin (SHIC)?

In 2025, a dedicated DOGE community member created Shibacoin (SHIC) for Shiba Inu enthusiasts and the broader crypto community. SHIC employs the same Scrypt algorithm as DOGE and is a Layer 1 cryptocurrency based on PoW mining. It aims to replicate the joyful and inclusive atmosphere of the DOGE community while integrating merged mining (AuxPoW) and scalable tokenomics.

Shibacoin can be considered a DOGE fork due to its similar technical foundations. It lacks liquidity pools, blacklisting wallets, and complex smart contracts, allowing anyone to freely run nodes to maintain the network. Additionally, SHIC supports merged mining with LTC and DOGE.

Shibacoin Token Distribution Mechanism

Shibacoin, like DOGE, adopts a fair launch mechanism without pre-mining, ICO, or developer allocations, enabling equal mining opportunities for all. Unlike DOGE, however, SHIC has a defined halving schedule consisting of six halvings. The first five halvings occur every 100,000 blocks, while the sixth directly reduces block rewards to 10,000 SHIC. The detailed halving schedule is as follows:

• Blocks 1–99,999: Reward of 500,000 SHIC
• Blocks 100,000–199,999: Reward of 250,000 SHIC
• Blocks 200,000–299,999: Reward of 125,000 SHIC
• Blocks 300,000–399,999: Reward of 62,500 SHIC
• Blocks 400,000–499,999: Reward of 31,250 SHIC
• Blocks 500,000–599,999: Reward of 15,625 SHIC
• Blocks 600,000 and beyond: Reward of 10,000 SHIC

After block rewards decrease to 10,000 SHIC, the inflation model becomes similar to DOGE, adding approximately 5.256 billion SHIC annually. The annual inflation rate remains below 5.4% and gradually declines each year, ensuring sustainable incentives and controlled inflation.

Earning Potential of Mining SHIC

As of July 4, 2025, SHIC has undergone two halvings, with over 80 billion SHIC mined and a current base block reward of 125,000 SHIC. The next halving is expected around July 23, 2025, and the final reduction to 10,000 SHIC per block is anticipated on February 17, 2026.

Currently, SHIC is in an early mining phase, offering higher block rewards and providing miners greater earning potential during this period.

According to CoinEx data, SHIC’s price increased by 10% over the past two weeks, with a circulating market cap of approximately $1.5 million. Daily SHIC production stands around 180 million tokens, equivalent to about $3,000 per day, placing it among the popular LTC merged mining coins.

How to Mine Shibacoin (SHIC)

Shibacoin uses the same Scrypt algorithm as Litecoin (LTC) and has supported merged mining with LTC since block 24,000. ViaBTC, the world’s leading LTC/DOGE mining pool, currently supports merged mining for LTC, DOGE, BELLS, LKY, PEP, JKC, DINGO, and SHIC. Miners simply connect their LTC mining rigs to their ViaBTC accounts without needing additional wallet configurations. Both PPS+ and PPLNS mining modes offer additional merged mining rewards.

ViaBTC settles SHIC earnings every two hours, offers fee-free withdrawals to CoinEx, and allows conversions to USDT. Miners can easily withdraw SHIC to CoinEx for trading or manually or automatically convert it to USDT on ViaBTC, ensuring flexible and convenient operations.

For a detailed mining guide on ViaBTC, refer to the SHIC Mining Guide.

Merged mining involves no extra costs, and early mining yields higher rewards. Start mining SHIC on ViaBTC today: https://www.viabtc.com/

Disclaimer: This is a paid post and should not be treated as news/advice.