Cryptocurrency Shiba Inu – Everything You Need To Know

The Shiba Inu Coin has acquired a lot of attention for various reasons, despite its low current value. The coin is rapidly gaining traction in the crypto market and is proving to be a fantastic investment option. Read further to find out what the Shiba Inu coin is, how to buy this digital currency, and what benefits it brings for investors.

What is Shiba Inu?

The Shiba Inu token is a decentralized cryptocurrency created by an unidentified individual or organization known as Ryoshi back in August 2020. It is named after the Shiba Inu, a Japanese dog breed that originated in the Chubu region. The Shiba-Inu coin is a spin-off of the famous Dogecoin, a satirical cryptocurrency inspired by the doge meme. Shiba Inu has been described as both a “meme coin” and a “pump and dump” scheme by many.

On the market, a Shiba Inu is only worth a few cents. In November 2021, one coin was valued at less than $0.00005, which means 200 of them were worth just one cent. Although the Shiba-Inu coin was not worth much in the market before, it has shown a considerable rise in value. Recently, this coin’s price went from $0.004 to $0.17, boasting a 4150% gain that showcases a promising future for its investors. Despite the low price, the total worth of all Shiba Inu coins was more than $26 billion because of the circulation quantity of around 549 trillion. Almost a quadrillion coins of this digital coin have been approved.

The Ecosystem of Shiba Inu

Shiba Inu is actually made up of multiple tokens working together to make the cryptocurrency ecosystem work:

• SHIB: The SHIB is the Shiba Inu money that can be traded and used as a medium of exchange.
• LEASH: This is the smallest of the Shiba Inu-related coins, with only 107,646 units issued. It compensates those who validate cryptocurrency transactions with staking money.
• BONE: Bone has a total quantity of 250,000,000 tokens, which puts it in the middle of the two other tokens in terms of circulating supply. It will be used as a governance token, allowing SHIB Army members to vote on upcoming proposals.

Where to Buy Shiba Inu Coin? 

Are you interested in investing in Shiba Inu? To make things easier for you, we have reviewed a few trading platforms and have found some of the best crypto exchange platforms.

• eToro

eToro is one of the best places to buy Shibu Inu coins. The FCA regulates this marketplace, so you can rest assured that you are dealing with Shiba Inu in a secure atmosphere. The Copy Trading service is another feature to consider when utilizing eToro. Moreover, EToro accepts debit/credit cards, e-wallets, and bank transfers for deposits and withdrawals, making the crypto exchange a piece of cake.

• Coinbase

Coinbase is likely to appeal to those who are new to cryptocurrency or have very little knowledge of it, as its interface is quite easy to understand.

• Binance

Binance is an excellent alternative to acquiring Shiba Inu cryptocurrency.

How to Buy Shiba Inu Coin?

As you already know where to buy Shiba coin, you can follow the below-listed steps to create an account on eToro and invest in digital currency.

1. Create a user account.
2. After confirming your cell phone number and email address, you will be prompted to upload some identification.
3. You have two alternatives for eToro’s ID verification process: a legitimate passport or a valid driver’s license. In most cases, both documents are quickly validated. The minimum payment is only $10, and a debit or credit card is the most convenient mode of payment.
4. Look for Shiba Inu in the search box.
5. When you see the token appear, as seen in the image above, click the “Trade” option.
6. Fill in the “Amount” box with your stake and click “Open Trade” to place your order.

Why Should You Consider Investing In Shibu Inu? 

Now is the right time to invest in Shiba Inu, and here is why: 

• Low Prices

Shibu Inu (SHIB) tokens are very cheap at the moment. A few hundred dollars can buy millions of them. At the current price of $0.00002925, $100 will get you 3.4 million SHIB tokens. 

• Coinbase Activity

Another reason why now might be a good time to invest in the Shibu Inu coin is its Coinbase activity. It is the exchange’s 15th most popular coin, with a current buy rating of 69 percent. This indicates that investor sentiment on SHIB is usually positive, and given the current low price, this could be an excellent opportunity to invest.

• The MetaVerse

The term Metaverse refers to a virtual world where people reside as digital avatars of themselves, doing work and social activities the same way they would in real life. The industry is estimated to rise to a value of $1.6 trillion in just a few years, which means that it has the potential to rival the early days of the internet as an investment opportunity.

The Shiberse, a metaverse built as a primary meeting point for the Shiba Inu community, tokens, and games, was introduced by the Shiba Inu developers. It’s possible it will feature virtual land and various non-fungible tokens (NFTs), which would boost the value of the Shiba Inu token by allowing transactions to be made more easily.

If the Shiberse takes off, it might help Shiba Inu tokens gain momentum among businesses and customers, which has been a challenge so far. Currently, just 645 primarily obscure retailers accept Shiba Inu; therefore, establishing this new use case in the metaverse could be beneficial to investors.

Is Cryptocurrency Shiba Inu A Safe Investment?

Shiba Inu is a digital currency that is part of a younger wave of cryptocurrencies riding a wave of interest in digital assets. Right now, Shiba Inu serves a limited purpose, and its value is based primarily on a speculative frenzy fueled by social media, so the scheme can tile either way. Many think that investment in Shiba Inu is not guaranteed or secure since it carries a high risk. Nonetheless, with enough luck and liquidity, it shows signs of skyrocketing in the future due to its rising popularity.

Taking pride in being the 15th most sought-after cryptocurrency just recently as of February 2022, it is attracting investors now more than ever. Moreover, the social media frenzy behind this coin is boosting its sales and it is also rumored that it will be listed on the sought-after crypto trading app, Robinhood which only going to increase its value further. 

So, if you want to trade Shiba Inu or any other digital money, you need to know what you are getting into and what the hazards are. Thus, it is vital to conduct thorough research beforehand so that you don’t risk losing your hard-earned money.

After all, when it comes to the world of cryptocurrency, you must learn how to play the right cards and keep an eye on Shiba Inu price prediction; who knows, investing in the Shiba-Inu coin can be the trump card you need.

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