The value of this new cryptocurrency shiba inu coin is increasing very fast. Is this the right time to buy this new cryptocurrency?

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Nowadays days the investors are investing well in cryptocurrency. As we have seen
after such a good result of Bitcoin, the Dogecoin also made its investors happy. Tesla
CEO Elon Musk’s confidence in this led to a rapid increase in its price. Simultaneously,
another digital money has been dispatched in the market. This new coin is known as
SHIBA INU Coin. SHIB is a short name for SHIBA INU Coin. Come let’s know more
about it.

What is Shiba Inu Coin?

Shiba Inu generally called Shiba Token. SHIBA INU was made in August 2020 by an
individual named “Ryoshi”. SHIBA INU Coin is made exactly like Dogecoin. An amazing
fact is that by May 2021 it has a market capitalization approx $5 billion to $6 billion.
Some people also call it the name of Dogecoin killer.

A few days back Elon Musk tweeted about this. Because of which there was an abrupt
leap in the cost of this digital currency. It gave around 70% profit from the absolute first
day.

The SHIBA INU token expenses just 1 rupee – and permits clients to hold SHIBA INU
coins in the billions or even trillions.

SHIBA INU token is an alternative coin to Dogecoin, and now this is going on in a lot of
discussions and if you are passionate about investing in cryptocurrency then you must
invest in it. Let’s know how you can buy SHIBA INU Coins.

cryptocurrency
Many coins of various cryptocurrencies

HOW TO BUY SHIBA INU Coin?

If you want to buy SHIBA INU Coin, then you have many options available in India,
which we will talk about here. So for buying SHIBA INU Coin, you have the best tool in
India, which is known as WAZIRX mobile application. The mobile application is a
completely Indian application, with the help of which you can buy SHIBA INU Coin
easily, apart from this you have other options.

For your information, on Thursday, SHIBA INU Coin was wrongly listed for Rs.3 by
WAZIRX and the company clarified that the misconfiguration resulted in the listing at an
overpriced price. After its discovery, the price declined to the level of 0.0015

Currently, the Shiba Inu price in the WAZIRX platform is in a range of 0.001417 to
0.001419. As of 17 May 2021, there were a total of 394.796 trillion Shiba tokens in
circulation, with a market capitalization of $6.52 billion.

Some of the other platforms where you can buy SHIBA INU Coin:-

  1. Uniswap
  2. CoinDCX
  3. BINANCE
  4. WAZIRX (for India)

The website of SHIBA INU Coin is also listed. Uniswap is a decentralized trade on Ethereum’s network that allows buying and selling of cryptocurrencies for BTC, DOGE, and Ethereum-based tokens. You cannot buy these coins in Indian Rupees (INR), these can be bought only in USDT/BUSD.

Shiba INU Coin History

The SHIBA INU Coin was created in August 2020, which is mostly based on Dogecoin, another cryptocurrency, founded by an anonymous founder known as “Ryoshi”. 

The Shiba Inu Coin cryptocurrency was launched on the market on 10th May 2020. Seeing this, it came to the headlines all over the world. Its discussion is in full swing in India too. It has been listed on Binance. This cryptocurrency was trading with a jump of 760 percent on its 7-day trailing basis.

SHIBA INU-CHAT
SHIBA INU Chart

The coin’s price at the time was negligible until it reached US$0.00002 on 20 April. The price reached a peak of $0.0000388 on May 10th, 2021, and crossed $0.000009. According to CoinMarketCap, it had a market cap of over 13 billion at the time, which was the 14th highest market cap in the cryptocurrency market.

The price dropped 40% to $0.000018 by May 13, the same day that Vitalik Buterin donated over 50 trillion Shiba tokens to the India COVID-Crypto Relief Fund.

SHIBA INU Coin Future

Shiba Inu is in the news for two reasons. Recently, Tesla founder Elon Musk tweeted saying that he wants a Shiba puppy that excited the crypto market and caused prices to rise by 300 percent.

The prices of Shiba Inu coins have dropped by nearly 40 percent after 27-year-old Russian Canadian billionaire Vitalik Buterin donated 50 trillion Shiba Inu coins to the India Covid Crypto Relief Fund run by Indian crypto entrepreneur Sandeep Nailwal.

Elon Musk wants to adopt Shiba Pup. This indicated to investors that Musk could invest in it. He also made a tweet to support Shiba Inu Quine. Due to which it jumped as soon as the cryptocurrency was listed on Binance. It reached its all-time high of $ 0.000028, which was earlier trading at $ 0.000004. On the very first day, Shiba Inu Coin was traded worth $6.5 billion on Binance.

Who is the owner of SHIBA INU?

Shiba Inu’s owner: Someone named Ryoshi, although no one knows this person’s real name. This crypto coin is named after the Shiba Inu, a Japanese dog breed.

What is the difference between SHIBA INU and DOGECOIN?

Dogecoin is developed using the same technology as Bitcoin. Shiba Inu tokens are powered by Ethereum. 

Non-fungible tokens like Shiba Inu are ERC-20 tokens and non-fungible tokens (NFTs) use the ERC-721 token standard of the Ethereum platform.

The official website mentions that the SHIB token is our first token and allows users to hold billions or even trillions of them.

More additions are coming according to Shiba Inu’s website. The creators are planning to launch the next coin Bone Dogecoin Killer in the future.

Frequently Asked Questions (FAQs)

FAQ1: How much is the SHIBA INU Coin?

Answer: Current Value of One SHIB is worth $0.00003359. Keep in mind that it varies from time to time.

FAQ2: Is SHIBA INU Coin a good investment?

Answer: You can prefer buying SHIBA INU COIN if you are interested but we will suggest you not take very big risks. Investing small for now will be a good idea.

FAQ3: Can SHIBA INU Coin reach $1?

Answer: Yes, SHIBA INU Coin will reach $1 in 2025 easily. In the market of cryptocurrency, a total of three such coins in 2021 are performing very well. Many of the big investors are also investing in these coins.

IMPORTANT NOTE:- Ask any expert and do a full check before investing anywhere. We will not be responsible for any kind of loss. We made this post for information only.

SACHIN AHIRWARhttps://personal-finance.in/
Hey, I’m Sachin. I’m a Blogger living in India. Guide for Personal Finance Planning & financial planning, Tax, Investment, Managing Money, Insurance, Retirement, Real Estate and Loans & more.

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