Shiba Inu (SHIB)

The Shiba Inu Ecosystem has produced “an experiment” in the form of the Shiba Inu Coin, a decentralized cryptocurrency that aims to foster a community.

Like many other cryptocurrencies, it was constructed on top of the Ethereum Blockchain Network by its creators.

Also, it’s a meme coin designed to be a direct competitor to Dogecoin, hence the nickname “Doge-Killer”.

Investors in the Crypto-Market are increasingly turning to the Shiba Inu coin, which has already taken over some Dogecoin marketplaces.

Brief History of Shiba inu

‘Ryoshi’, an unidentified person or group, invented Shiba Inu (SHIB) in August 2020, a decentralized cryptocurrency. A parody of Dogecoin, it went on to become extremely popular.

Meme coins are cryptocurrency tokens based on popular memes. This year, despite being in the same category as other mainstream cryptocurrencies like Bitcoin, their prices have risen significantly.

Although it is difficult to conjecture why Shiba Inu’s price has risen, ShibaSwap (an exchange) could have had a significant role in establishing the decentralized exchange.

Furthermore, according to reports, the designer of the Shiba Inu meme coin aimed to unseat Dogecoin as the leading cryptocurrency. Shiba Inu coin’s value has skyrocketed since 2021. Compared to Dogecoin, Shiba Inu has a market capitalization of $26 billion.

For investors, the exchange is a motivating element since it offers the potential for greater returns if they can hold onto their investments for a more extended period.

Also, the Shiba Army, a group of Shiba Inu fans, has been a significant factor in the rise of the meme coin. They’ve been actively promoting the meme coin on social media with a strong Twitter following.

What to consider when buying Shiba Inu Coin

Do you wish to buy Shiba Inu? Well, if you do, then it is highly recommended to read the following points:

• Shiba Inu is not a coin; it is a token.
• It is a multi-token ecosystem.
• It is unpredictable like most altcoins.

What distinguishes tokens from coins is that tokens are built on top of existing blockchains, whilst coins are built from scratch.

Likewise, Shiba Inu does not have its blockchain. On the other hand, it is a token produced on the Ethereum network.

Moreover, their blockchains must be mentioned to distinguish popular cryptocurrencies like DOGE and BTC. Many other popular tokens are based on the concept, such as BAT and Tether.

How to Buy Shiba Inu

There are multiple methods to buy Shiba Inu, and we will discuss a general and straightforward way.

1. Choosing the right platform

Firstly you need to choose the most suitable platform or exchange for you. A crypto exchange is a platform where you can trade tokens or coins. For instance, the following are some great options for Shiba Inu:

• Binance,
• Crypto.com.
• Atomic Wallet.
• KuCoin.

2. Creating an account

It’s time to register an account with the crypto exchange you selected for your Shina Inu.

All your personal information should be prepared, as some exchanges require things like your state of residence and government-issued identification.

Making an account is quick and fast, so you can start trading Shiba right away!

Litecoin (LTC), Dogecoin (DOGE), Cardano (ADA), and other popular cryptocurrencies can also be traded or purchased on these platforms.

3. Depositing money to your exchange account

Of course, you need to deposit your regular money or fiat currency into your exchange account- this much is obvious!

So, you’ll need to deposit some fiat money when you open an exchange account. Most countries allow the general public to acquire crypto, although it depends on your country’s regulations regarding crypto. Consequently, if you are a citizen of such a country, you should make a transfer of funds to your exchange account. It’s a cinch!

4. Buying Shiba Inu

You can now begin purchasing with the money you have accumulated in your exchange account.

Shiba Inu can be purchased from a trader by looking through the available exchange menus. Be patient and pick a vendor or trader with good feedback or a fast turnaround.

Finally, make the payment and buy the coins you need.

It is also worth mentioning that each exchange provides different menus and facilities to the users. So, it is better to do it in the presence of an expert or after detailed research.

Where to Buy Shiba Inu: Best Crypto Exchanges for Shiba

There are considerable crypto exchanges where you can sign up and start trading Shiba Inu. Also, we have selected some of the best for you.

Shiba Inu can be purchased on Binance or Coinbase. Due to minimal trading fees and the opportunity to invest with as little as $10, both platforms are ideal for anyone looking to trade.

Binance

Shiba Inu may be purchased, sold, traded, and held easily on Binance. You will need to open an account to buy, sell, and store them on Binance.

Binance is a cryptocurrency trading platform that is accessible online. Also, it is compatible with the majority of cryptocurrencies in use today.

Also, with its crypto trading platform, users can keep their digital funds in a secure wallet.

For those who want to earn income or trade cryptocurrencies, the exchange offers additional options. Furthermore, programs for miners and investors are also provided.

Binance Coin is a blockchain-based coin issued by Binance, one of the world’s largest cryptocurrency exchanges (BNB).

Coinbase

Another excellent option for Shiba Inu trading is Coinbase. Over 100 tradable cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, can be purchased, sold, and exchanged via Coinbase’s platform. At $256 billion in assets, Coinbase is one of the world’s largest cryptocurrency exchanges, with more than 98 million active users.

Using the traditional Coinbase platform for simple buy and sell orders are likely to be preferable for beginners. Coinbase Pro, a premium subscription service available to all Coinbase customers, provides additional functionality and order types for more experienced users.

Best Crypto Wallets for Shiba Inu

Like exchanges where you can buy or sell the tokens, the crypto wallets also have a lot of variety and options. Please keep reading to learn about some of the most excellent options.

Ledger Nano X

Many people use Ledger Nano X’s hardware wallet because of its many features. You can also link it over Bluetooth to any Bluetooth-enabled device. When you need to transmit or receive cryptocurrency, this device features a built-in battery capacity of 100 mAh.

Shiba Inu (SHIB) is one of the top cryptocurrencies supported and has more than 10,000 other crypto tokens.

Atomic Wallet

ETH, SHIB, XLM, USDT, and SHIB are just a few cryptocurrencies supported by the atomic wallet, a multi-currency wallet.

Your sensitive information is kept in your device’s local storage, similar to a cold storage wallet.

Atomic Swap, a beneficial feature, allows you to exchange any cryptocurrency you own for a different one.

Shiba Inu may be purchased using the atomic swap, which allows you to trade any other cryptocurrency for Shiba in your wallet. You can also use the built-in exchange platform to acquire Shiba using your preferred means of exchange.

It offers strong encryption and staking for a large number of Proof-of-Stake coins.

If you’re looking for a wallet that isn’t just good for Shiba Inu but also suitable for hundreds of other crypto tokens, the Atomic wallet is ideal.

Best Hardware Wallet for Shiba Inu

Like online or cloud-based wallets, hardware wallets are also an excellent option.

Trezor Model T.

The Trezor Model T is a cutting-edge piece of hardware for storing your Shiba Inu. You can confidently store your crypto, passwords, tokens, and other keys.

Coins and other data can be accessed using your digital keys. Trezor protects your private keys by encrypting them. Keys never leave the device, preventing online threats from obtaining them.

Trade or Sell Your Cryptocurrency

This particular step involves a lot of skill and timing. You must be thinking, what does timing have to do with trading?

Well, hold your thoughts and read carefully.

The ups and downs of cryptocurrencies are a thing of routine. In fact, they tend to change their values more often than your currency, like the USD.

You can sell or trade any crypto using the exchanges like Binance, Coinbase etc.

Shiba Inu Price

At the time of writing this article following are the price details of Shiba Inu:

Price: USD 0.000011 ; trading volume: USD 370,377,403 U.S. dollars in 24 hours.

In the previous 24 hours, Shiba Inu has gained 6.73 percent. It is currently ranked number 16 on CoinMarketCap, with a current market cap of USD $6,707,386,949.00.

Moreover, 549,063,278,876,302 Shiba coins are in circulation; however, the maximum supply is unknown.

Siba Inu Real time Price

Shiba Inu Price Prediction

Volatility in the price of any cryptocurrency should be expected, as it has been since the inception of this industry. Following are the price predictions along with the respective years:

2022 Shiba Inu price prediction: SHIB has the potential to reach $0.0001 if the Shiba Inu ecosystem continues to flourish.

2025 Shiba Inu price prediction: As Bitcoin’s halving and global crypto market growth continue, Shiba Inu’s fundamentals and SHIB’s value might rise to $0.0002.

2030 Shiba Inu price prediction: It is expected that Shiba Inu will become a significant participant in the Metaverse by 2030. If this happens, the price of Shiba Inu could rise to $0.01.

Shiba Inu Supply, Volume, Market Cap, Change

Is Shiba Inu a Good Investment?

However, it appears to be a worthwhile investment based on its market value. Keeping this in mind, it’s not a good idea to put all of your savings into Shiba. However, Shiba Inu crypto is not a long-term investment that you can count on.

Moreover, that is our opinion, and you must research thoroughly before breaking your bank. After all, it is your money.

Conclusion

We hope this article helps you decide whether to buy Shiba or not. Also, it is also worth mentioning here that there are thousands of millionaires around the globe who earned millions of dollars in a few hours when they invested in crypto. However, it would be best if you did not forget those thousands who lost millions overnight.

Finally, is Shiba an excellent token to spend your savings on? As the last decade has taught us, anything can happen – crypto tends to be unexpected.

What is our advice? We say invest on Shiba but stay in a safer zone and experiment with small amounts, and don’t try to risk it all on single crypto.

Happy trading!

Last modified: June 3, 2022