What exchange for shiba inu?

The world of cryptocurrency is constantly growing and changing with new technologies. As of 2022, there are approximately 10,000 types of cryptocurrency coins, up from just a handful back in 2013. With so many new tokens coming out, what makes Shiba Inu (SHIB) a coin to start investing in?

Shiba Inu is an Ethereum-based cryptocurrency. It’s known as an altcoin, which is basically a name for any cryptocurrency that isn’t Bitcoin. It’s also known as a meme coin, meaning that it was originally conceived as a result of an internet meme.

In this case, the theme is the popular Shiba Inu dog. While this famous Japanese dog breed itself isn’t a meme, it has been featured in many iconic internet pictures.

As a result of its status as a meme coin, many investors and cryptocurrency enthusiasts have deemed it unworthy of serious consideration. Since the value of a meme coin can fluctuate wildly, many investors find it hard to build a large position in the coin because the value could change drastically over a couple of years.

Shiba Inu is also known as an ERC-20 token. This essentially means that it runs on the Ethereum blockchain, hence why it’s known as an Ethereum-based cryptocurrency. It was created in August 2020 by Ryoshi. It’s currently unknown whether this is a group or an individual.

Shiba Inu was created with the purpose of preserving decentralization. Decentralization is one of the biggest selling points of cryptocurrency, giving it the ability to function without being impeded by authoritative institutions such as banks and government bodies.

This prevents it from being monopolized and gives more power to regular individuals who want to buy, trade, or use the currency. Shiba Inu runs on the Ethereum blockchain because it’s well-established and allows it to remain independent.

As of writing this post, SHIB is worth around $0.000009000, with a market cap of $4,962,825,374. It reached an all-time high of $0.00007482, with a market cap of $41 billion in October 2021.

While both coins are themed around the popular Shiba Inu breed, Shiba Inu and Dogecoin (DOGE) are completely separate projects. However, they do share the status of meme coins.

The first popular meme coin was Dogecoin, which currently sits at $0.08. The highest it has reached was $0.64 on May 7, 2021. Although it originally started as a joke, the coin has been given a lot of publicity thanks to Elon Musk: It would jump in value every time the Tesla founder tweeted about it.

In January 2022, he even made an announcement that some Tesla products could be purchased with Dogecoin.

Memecoins are typically made as jokes, but with widespread adoption from reputable influencers, they can quickly take on a life of their own and begin growing out of raw popularity. This is what happened with Dogecoin and could easily happen to Shiba Inu as well.

Shiba Inu is currently growing in popularity as a meme coin. It has a well-known mascot and is starting to build a large and loyal following. But should you invest in Shiba Inu, or is it doomed to forever be a meme coin with no real value? No one can tell you that for sure, but here, we’ll examine some of the reasons you might want to start investing in this coin now.

Cryptocurrencies need to keep up in terms of technology if they want to appeal to a larger audience. After all, the value of a coin needs to be relative to its real-world use and not just the fact it has a cute dog as a symbol.

Thankfully, the team at Shiba Inu hasn’t forgotten about this. They have recently launched a decentralized exchange called ShibaSwap that was created for users to stake their SHIB tokens in exchange for interest. In addition, they have also announced plans to enter the Layer-2 space with its own network focused on scalability.

This is extremely promising for Shiba Inu’s future and is proof that the team wants it to go beyond the status of just a meme coin.

But although the technology is certainly promising, it doesn’t mean that Shiba Inu is guaranteed to be worth a lot of money in the future. As with all cryptocurrencies, the value of this coin will depend on the decisions the team makes in the next few years.

If anything, the team’s willingness to improve on the technologies surrounding Shiba Inu is a promising sign of things to come.

Shiba Inu isn’t just a single cryptocurrency – the SHIB currency has a growing ecosystem surrounding it, projects such as the above-mentioned ShibaSwap platform and two other associated tokens: Leash (LEASH) and Bone (BONE).

Leash is the second token in the Shiba Inu ecosystem, with 107,646 tokens - a much lower number compared to the trillions of Shiba Inu tokens. Bone has a total supply of 250 million tokens and is designed to be a governance token that allows the ShibArmy community to vote on upcoming proposals.

In addition to these tokens, Shiba Inu also has the Shiba Inu Incubator, a platform that “allows holders to find the tools they need to bring their inspiration and unique perspectives to life.” While this sounds a little vague, it shows that the team at Shiba Inu has long-term plans to grow its community and push its coin out of its status of just a meme coin.

Lastly, there are also the Shiboshis. These are 10,000 Shiba Inu-generated nonfungible tokens that have been written on the Ethereum blockchain. These have different traits, making each of them completely unique and giving them a collectible quality.

NFTs have grown massively popular over the past few months, and the Shiboshi collection aims to take advantage of the trend and attract potential NFT investors to the coin. Again, this shows the team’s ability to identify and take advantage of trends in order to grow the value and presence of its coin.

Shiba Inu is in a unique position thanks to the community surrounding it. As more people talk about the coin and its related projects, the value of the coin will begin to rise thanks to social media speculation.

The team’s push into NFT territory also gives it more presence in the cryptocurrency world. As the community grows stronger, so do the networking opportunities, connections, and the number of investors.

One of the biggest advantages of SHIB is that a single coin is currently worth just a fraction of a cent. This means that it’s possible to buy millions of SHIB coins for just a few hundred dollars. This can represent a fantastic low-cost investment opportunity for anyone interested in altcoins or cryptocurrency in general.

It significantly lowers the barrier of entry and allows everyone to invest in cryptocurrency.

However, that doesn’t mean that the gains with SHIB are low. In fact, there are a surprising number of opportunities to make a sizable amount of profit with this coin.

In August 2020, SHIB started trading at just $0.00000000051. Given that its peak price in October 2021 reached $0.00007482, that means the coin had grown by 14,670,488%. A small $10 investment would have seen returns of $1,467,050.

While this opportunity is no longer available, it does show that SHIB has massive potential for future gains despite being such a cheap investment right now.

Another great example of this would be an unknown trader who purchased around 70 trillion SHIB tokens for roughly $8,000 back in August 2020 during its initial launch. A year later, those coins accounted for about 13% of SHIB’s total circulation of 550 trillion.

The investment gained a staggering value of $5.7 billion, equating to a roughly 7.1 million percent return.

As with any investment, it’s essential to understand that there are always going to be risks involved. With Shiba Inu, the primary risk is in the coin’s status as a meme coin.

This puts it into the category of speculative investments and is further enforced by the coin’s limited utility. Much of the value of SHIB is in how it’s perceived by the general public and social media.

For example, 50% of SHIB’s token supply was initially sent to Vitaly “Vitalik” Buterin, the founder of Ethereum, on which the SHIB coin is based. While the motive wasn’t clear, people speculate that the move could have been a publicity stunt to encourage more social media activity.

Others believed that depositing so many coins into Buterin’s wallet meant that the coins would be more scarce. A couple of months after SHIB was introduced to the world, Buterin announced that he would sell $1 billion worth of SHIB tokens and donate the proceeds to charity.

He also burned about 90% of his SHIB coins and planned to donate the remaining 10% to charity.

Although the initial sale of Buterin’s SHIB coins caused the price to fluctuate, burning his remaining supply ultimately increased scarcity and the value of each coin. This social media stunt could’ve backfired immensely, but holders were fortunate that Buterin decided to burn his remaining tokens.

This is a great example of how SHIB’s value can be influenced by seemingly random social factors and events, and it should be a consideration for all investors to keep in mind.

The process of buying SHIB is the same as with any other coin.

In general, any investor searching for where to buy Shiba Inu should know that as a meme coin with an unpredictable value, SHIB is a risky investment. Thankfully, its low price means that anyone can build a relatively large position in SHIB and not be hit with a huge financial loss.

This makes it a good investment for people who believe in the SHIB community and are positive about its future growth, but it can also be a great place to get started with a low-cost cryptocurrency.

The most popular Shiba Inu exchanges are Binance, KuCoin, Huobi Global and OKX. There are many other crypto exchanges where you can trade Shiba Inu, but make sure to do your own research before making your choice. You can find all cryptocurrency exchanges here.