Shiba Inu Coin Fundamental Analysis has been discussed in this article and if you are interested then how to buy Shiba Inu. After reading this article you will be in a position to make an informed decision that whether SHIBA suits your investment theme or you are aligned with its vision or not.
What is Special about Shiba Inu Coin?
Shiba Inu is a Meme Coin, which has build an ecosystem. Being a meme coin its does not posses any special technology but its vision is to act as a medium of exchange in decentralized world. They call themselves as Doge-killer as they will outnumber Dogecoin in coming years.
Shiba Inu Coin Fundamental Analysis
Shiba Inu was created in August 2020 by Ryoshi, is a meme coin whose name is kept on a hunting dog breed in Japan. They call themselves as Dogecoin-Killer. Doge Coin is also inspired from same breed of dogs.
By now its clear that main competitor of Shiba Inu is Dogecoin. Shiba is traded by the name SHIB across different platforms now. It allows buyers to buy billions of coins and store them in their wallet. They claim that they will replace Doge Coin in near future.
1 Shib will cost you only 0.000026 USD but still has a Market Cap, the total value of circulating coin supply in the market is around 14 Billion dollar because of the huge supply of 549 Trillion coins, as per CoinMarketcap on 16th April 2022.
Shiba Ecosystem has total 5 different projects which you must know before going forward.
|SHIB||1st token which is their Foundational currency for trading and acts as medium of exchange with enormous supply. Total supply of 549 trillion tokens. It offers Shib incentive of double return, refer their white paper for more detail on this incentive|
|LEASH||2nd token in the Ecosystem with very limited supply of only 1Lakh minted tokens which make them even more popular. It offers Leash Incentive of triple return, refer their white paper for more detail on this incentive|
|BONE||Extra special token created to fit in between above two regarding to circulation supply. It has a total supply of 250 million tokens. The purpose of this token is governance related, the more Bone you hold the more weight your vote will have.|
|SHIBASWAP||In home decentralized platform for trading coins. The platform offer some other features like Dig, Burry, NFT drops and more. If interested you can check them by clicking here|
|SHIBOSHIS||A NFT offered by SHIBASWAP deployers. You can check them in opensea maket – click here to check all NFTs offered under shiboshis. If Interested you can by your own Shiba Inu pet in Virtual World.|
Is Shiba Inu coin a good Investement? Its Growth Factors
Is you have this question in your mind and please don’t fall in the trap of fear of missing out FOMO, in recent we have seen the humungous rise in the price of SHIBA INU token.
Like almost every other crypto currencies the token SHIBA INU is not backed by any asset or institution so what can you lose if your bet goes wrong is way more than you think.
If you ask me about my thoughts on this token then In my eyes this is just a meme token which is not solving any issue, which has no technology to provide service for. It can be used as a medium of exchange that too if both party agrees.
For traders it is like a penny stock which has buzz around in the market. Its price is so cheap that you can accumulate 1.9million tokens in just 50 USD. So one who owns SHIBA INU just beting that if its price reaches 1cent then they will mint money or even if it follows the trend of DogeCoin then also they will cash their tokens. So all those who missed the rally of DogeCoin are bullish on Shiba Inu.
How to Buy Shiba Inu?
SHIB, LEASH and BONE are purchased and sold through ShibaSwap, an in-house DEXs platform by SHIBA INU. In 4 easy steps you can buy SHIBA from ShibaSwap platform.
- You need a crypto wallet, if you don’t have one already then create a MetaMask wallet. For detail knowledge on creating meta mask wallet you can read it on our other article by clicking here.
- Send ETH to you wallet. You can directly buy Ethereum from your metamask wallet or you can transfer it to your wallet from other exchanges like Binance, Coinbase, CoinSwitch Kuber… Etc… Make sure to use ERC 20 network when transferring ETH.
- Connect your wallet to ShibaSwap. Access your wallet to ShibaSwap by clicking ‘Connect to a wallet’ and selecting MetaMask.
- On ShibaSwap platform use Ethereum (ETH) to Swap for SHIB, LEASH or BONE.
If you have an account in any of the exchange who offers SHIB token then you can easily buy it there. Few of the famous exchanges which I know offers SHIBA are :
- Uniswap (V2)
- CoinSwitch Kuber
FAQs on Shiba Inu
Can a Shiba Inu hit 1 cent?
Yes, but only if enough capital goes into dog themed tokens.
What is Shiba Inu highest price?
Shiba Inu has made an All time High Price of $0.00007956
Can I buy Shiba Inu in India?
Yes, there are tons of Platform which are offering Shiba Inu like Binance, Coinbase, CoinSwitch Kuber, Wazirx etc
Sources: 1. Coinmarketcap 2. ShibaInu White paper 3. Wikipedia.org