What is SHIB (Shiba Inu) and How can you buy it?
Note: This is not investment or trading advice.
What is the Shiba Inu (SHIB) coin?
This article relates to the Shiba Inu token, not the actual dog, even though they're very good looking!
"SHIB is an experiment in decentralized spontaneous community building. SHIB token is our first token and allows users to hold Billions or even Trillions of them. Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin in a small amount of time (relatively speaking). Popular worldwide, and already up thousands of percent, Shiba token ($Shib) is the first cryptocurrency token to be listed and incentivized on ShibaSwap, our decentralized exchange." - ShibaToken.com
In reality, it's technical aspects are no different from Dogecoin (DOGE). SHIB is formed as a joke and even has the same mascot, Shiba Inu. The only difference is that Elon Musk is not pumping SHIB. In fact, after Elon's appearance on Saturday Night Live, DOGE declined sharply in value while SHIB spiked.
The chart below shows overall social score among cryptocurrencies. SHIB is #4 and sentiment is happy!
Is Shiba Inu legit?
Time will tell. As always, only invest what you can afford to lose. Luckily, at the time of writing this article, you can buy 50 million tokens for about $20, so it's a very low risk, high reward scenario. There are some decent prospects in the overall structure. The way I see it is: If DOGE can serve no functional purpose to society and still be worth 5 cents, then surely this has some room to grow.
Shiba Inu's pricing forecast & potential
At the time of publication of this article, the USD price of one Shiba Inu coin is $0.00003325. Check the current price here. While I would love to say that this will go to $1, it won't. The supply is 1 quadrillion. The market cap of Bitcoin, the most popular digital currency in the world, is just over $1 trillion. While we do anticipate Bitcoin's market cap to increase over time to hopefully over $10 trillion, we do know that no other cryptocurrency will ever surpass Bitcoin. Based on this, it's unlikely that the price of one Shiba Inu will ever be more than $0.0005. If it were to hit this mark, the market cap of Shiba Inu would be $500 billion, and likely a top 5 overall crypto. It's just not feasible with so many better projects out there.
Having said that, the most important question is "Is it possible to make some money by investing in Shiba Inu?" The answer is YES. A very small investment of $50 could turn into $10,000+. Shiba Inu is very popular right now and is drawing a lot of attention from market research companies. The key is to hold. #ShibaCoin $SHIB.
How to buy Shiba Inu (SHIB)
As an American our options are limited. But there are still various ways to buy SHIB. Unfortunately, the major American exchanges like Coinbase, Bittrex, and Gemini do not support SHIB.
For a full list of exchanges available to purchase SHIB, click here.
Where can you store Shiba Inu (SHIB)?
While most exchanges (the big names) are a reliable source for coin storage, it's still recommended that you leave it in a wallet:
Trust Wallet
Coinbase Wallet
That's it, enjoy and good luck!
