Shiba Inu coin is the new cryptocurrency on the block and it seems to be build in popularity.
The coin, or using its proper name Shiba Token, has been riding off the coattails of Dogecoin with its recent gains in interest and price.
Dogecoin has seen massive gains in price thanks to Elon Musk’s promotion and the coin becoming recognised by crypto markets.
However, now people are wondering whether or not they should invest in Shiba Inu coin and whether or not its price will rise.
Well, not much is know yet about the coin as it is still a new token but here’s everything that we know so far about the new crypto on the block and a possible future that it may hold.
However be warned that investing in cryptocurrencies is a risk like many other investments. Remember to make sure you do your research and understand that cryptocurrency is massively volatile.
Can you buy Shiba Inu coin in the UK or anywhere else?
In order to buy Shiba Inu coin, (SHIB), investors will need to use platforms like CoinDCX, Binance, and Coinbase to purchase the coin. Buyers will have to connect the supported cryptocurrency wallet to UniSwap.
According to Binance, the total supply of Shiba Inu coin tokens is one quadrillion (1,000,000,000,000,000) and the current circulating supply is 100 per cent.
According to Shiba Token’s website, there are some centralized exchanges that have listed SHIB, but CEXs have a history of locking funds. If you can, it is safer to trade on a decentralized exchange like Uniswap or 1inch.
Will the coin reach $1 or £1?
It’s massively early days as very little is known about the cryptocurrency especially one that appears to be a meme-crypto like this one.
However, with the success of Dogecoin, there is a possibility in the future.
Its price at the time of writing is $0.00003191 which means there will be a long way to go in order to get it up there with the likes of Dogecoin.
But investors should be warned as many people are unsure how reliable and legitimate this token is and if they want to invest, they must understand the massive risks associated with it and investing in cryptocurrency.