The Shiba Inu SHIB Token
The Shiba Inu SHIB token has been making waves in the cryptocurrency space in recent months, thanks to its rise in popularity and corresponding meme culture. However, despite the hype surrounding the SHIB token, it remains difficult to apply its value from an investment standpoint. Its price has been fluctuating dramatically, with the last few months seeing a sharp decline, but the future looks bright.
Listed on multiple crypto exchanges, SHIB is currently trading for $0.01 per coin. In order to purchase SHIB, you must first buy digital currency that can be purchased with fiat money and transfer it to the exchange that offers SHIB token. Binance is one of the leading cryptocurrency exchanges, though it does not support the purchase of SHIB in states or Hawaii. To purchase SHIB, simply log into the exchange website and select your payment method. You can either use a credit or debit card.
The price of the Shiba Inu SHIB has surged by 10 times since its launch in October, placing it in the top ten among all cryptocurrencies. This crypto has attracted plenty of attention from traders and the media. In the first week of October, Elon Musk tweeted a picture of his new puppy Floki, which sparked a huge retail investment in a meme token. The SHIB also gained traction with news that Tesla founder Elon Musk had signed an agreement to endorse Dogecoin, a cryptocurrency that uses the Shiba Inu dog breed as inspiration.
What Is SHIB Token?
This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu, but denied such rumors on the Lex Fridman podcast on June 5, 2021.
Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies starting with the father of all Dogecoin (DOGE), including Baby Dogecoin (BabyDoge), Akita Inu (AKITA), JINDO INU (JIND), Alaska Inu (LAS) and Alaskan Malamute Token (LASM). These lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.
Shiba’s success sparked an avalanche of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly.
