Will the ‘Dogecoin Killer’ break all records or experience a major crash? Find out right here!
Shiba Inu (SHIB)
is a meme coin that has seen a growth of 11430362.4%
since its inception on Nov. 28, 2020, and continues to be a hope for thousands of holders
. Also known as the Dogecoin killer, Shiba Inu
was developed by a person who goes by the name of ‘Ryoshi’
While the SHIB token has decreased in price, its popularity has only increased overtime. With countless groups on Facebook, millions of followers and tweets, and headlines in mainstream media every week, it can be said that Shiba Inu is still the crown prince of the memecoin world.
There can be multiple reasons, however, the biggest one is the number of supportive tweets from the owner of Tesla and SpaceX, Elon Musk, followed by the founder of Ethereum, Vitalik Buterin, as Shiba Inu gained massive popularity in the social media world and still creates headlines with even a small price change.
Another more simple reason behind the coin’s popularity may just be a superficial and aesthetic one. Aside from the humorous aspect of buying a meme coin, it’s possible that many people are just really into cute dogs. The Shiba Inu dog, and Shiba Inu meme, which borrows its likeness, is undoubtedly adorable, and conceivably one of the main reasons behind the push for buying Shiba Coin — maybe the popular dog breed is just so cute that it’s convinced millions of people around the world to look into how to buy Shib.
Since the SHIB token created many millionaires
and got support from influencers like Vitalik and Elon, it has seen a massive increase in its popularity, especially in the world of social media. The SHIB token holders follow the HODL
philosophy and firmly believe that holding the token for a long period can make them rich in the future.
Shiba Inu is available on almost every major crypto exchange, including Binance, Kucoin, and Coinbase. All you need is an active account on any of these exchanges that supports the token to buy it.
A great way to buy the SHIB token is through Binance. If you have an active Binance account, follow these steps:
- Sign in to your Binance account.
- Select ‘Markets’ in the top bar on the left-hand side.
- On the next screen, navigate to the right side to the search bar and enter ‘SHIB’
- Now, choose the Spot market and select your preferred pair. It can be SHIB/BUSD, SHIB/USDT, or others, depending on what currency you want to trade SHIB with.
- On the SHIB trading pair chart screen, place an order on the window on the left-hand side at your preferred price.
- After placing the buying order, it will execute as soon as the market price of the SHIB token will reach your preferred price. You will consequently be able to see the amount of tokens in your Binance wallet.
Shiba Inu (SHIB) started from $0.000000000056 and went all the way up to $0.00003791 on May 10, 2021. Since then, the Shiba coin has experienced a steep downfall and is currently trending at around $0.000006453.
The market is currently bearish, as Bitcoin’s price fell down during the 3rd week of September 2021 after reaching $50,000 in August and is currently trending below the $45,000 mark. It is a known fact that the entire crypto market follows the trend of the largest cryptocurrency in the world, which means that when BTC is following a specific trend, most cryptocurrencies mimic its behavior.
Since the market is bearish and Shiba Inu is currently trending at $0.000006453, it may be a great time to buy the tokens and hold.
As for the SHIB token reaching the $1 mark
, the chances are extremely rare in the upcoming months, according to some crypto experts. This is because the supply of SHIB tokens is extremely high, currently standing at 1 quadrillion tokens (50% of which were sent to Vitalik
them in May 2021). However, the crypto market is considered extremely unpredictable. Therefore, if the coin successfully follows the pattern of Dogecoin, it can easily hit the target of 1 dollar in the near future.
Another aspect to consider here is the fact that many BTC enthusiasts expect that Bitcoin can touch the $100,000 mark by the end of 2021. Even though the recent bearish trend would say otherwise, if Bitcoin touches $100k by the end of 2021, the SHIB token can see a major price change. If not $1, the token can easily hit $0.001 (or even $0.01) in such a case.
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