Buy Shiba Inu (SHIB)
Despite the fact that the top digital currencies have reached tremendous heights, most of our daily life is still governed by a centralized system. Shiba Inu is a coin that is completely controlled by its audience. She was introduced in 2020 by a user named Ryoshi. Its purpose is to establish a decentralized standard.
Digital currencies that do not maintain their inherent sovereignty suffer from a precarious existence. The Shiba Inu, nicknamed the Army of the Shibs, seeks to determine whether decentralization can actually work when the coin lacks a centralized structure, zero funding, and zero formal control. Let's take a closer look at this interesting project.
Appearance, history and team
The Shiba Inu Team (SHIB) was established in 2020 by a group of anonymous developers. The founder uses the pseudonym RYOSHI RESEARCH on his social networks. From what he says, he is an ordinary crypto trader who has decided to create a decentralized, community-driven ecosystem. Developers do not have any privileges and do not keep a supply of coins. Half of the SHIBs were blocked on Uniswap to pay rewards to liquidity providers in defi-pools. Another 500 trillion SHIB was sent by the developers on their own initiative to the Ethereum project manager. Contrary to expectations, he did not carry out the incineration, but donated part of the assets (100 trillion SHIB) to charity. The coin fell in price, but immediately attracted attention and subsequently began to slowly grow. And then there was a sharp jump. Those who sold the coin earlier realized that they were in a hurry.
An interesting case: two siblings from New York - James and Tommy, unable to develop their business due to the pandemic, decided to invest several thousand dollars in SHIBA INU. Now they have become millionaires. Such is the story of another comic meme cryptocurrency and its fans.
Why is Shiba Inu so popular?
The token is positioned as a "Dogecoin killer" and an experiment to develop a decentralized community. The asset is named after the Shiba Inu dog breed, the stylistic image of which became the DOGE logo. The team pursued the goal of overtaking Dogecoin in capitalization, and in October they succeeded. However, now the capitalization of DOGE is gaining momentum again.
It is important to understand that Shiba is not a digital currency that runs on its own blockchain. It is an ERC-20 token launched on the Ethereum blockchain. Functionally, it is unremarkable, it has no intrinsic value, smart contracts or a unique technical solution.
The only use of the token is SHIB transfers between users. However, even despite this, the token has become quite popular among the crypto community. Faced with this success, the Shiba Inu team made the decision to develop the asset's ecosystem. In July, it launched its own decentralized exchange, ShibaSwap. This is an analogue of Uniswap and other DEXs - users can earn on staking and provide liquidity to pools (deposit funds into pools that other traders can use to trade on DEX).
Shiba Inu has a fixed supply of 1 quadrillion (a digit followed by fifteen zeros) tokens.
Half of them are locked in the Uniswap liquidity pool. The other half were transferred to Ethereum co-founder Vitalik Buterin. Not wanting to be responsible for owning so much of the asset, Buterin donated part of his SHIBs to the Indian Fund to Fight COVID-19, and he simply burned most of the meme tokens.
What affects the price of Shiba Inu?
SHIB is one of the fastest growing assets in terms of capitalization. The media have a huge impact on the value of a coin.
A lot has been written about Shiba Inu: several celebrities have announced their support for the token, including musician Nick Carter and football star Antonio Brown. Tesla owner Elon Musk also pays special attention to the token: in March, the entrepreneur published a tweet mentioning the Shiba Inu breed. After he wrote that he was thinking of having a Shiba-Inu puppy. In June, he recalled this and promised to name him Floki, and later published a photo of his puppy on the social network.
After each tweet from Mask, the price of the token increased, sometimes several times. At the same time, Musk is a well-known Dogecoin fan. His frequent mentions of DOGE have a positive effect on the price of other meme tokens, and above all, SHIB. Whenever Musk tweets about his dog or posts a meme about Shiba Inu dogs, investors take it as a signal to buy. This phenomenon even has a name - the Mask effect.
What makes Shiba Inu unique?
Killer Dogecoin is not only different in that it is controlled by a Shiba Inu group that relies on a decentralized structure that frees centralized power from power. This mechanism is backed by the company's Woofpaper, which claims that "collective decentralization" allows them to develop something far more important than a centralized staff could.
Shiba Inu originated as an attempt to decentralize the formation of society from scratch. Shiba tries to determine if decentralization can be successful if society is in complete control of itself, without money, without a centralized team, and without formal leadership.
What are the advantages of Shiba Inu
- The token is based on the reliable and stable Ethereum blockchain.
- Good momentum at the start.
- Listing on solid platforms.
- Strong and close-knit community.
- NFT token support.
Where to buy Shiba Inu in India
You can buy SHIB using the exchange. The site's reliability is primarily determined by the trading volume and the number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance, Crypto.com, Atomic Wallet and KuCoin are just a few of the exchanges where you can find and buy Shiba in India.
An online brokerage platform is a very convenient option for investing in digital currency. It allows you to buy and sell popular digital currencies. The process works the same as with a traditional exchange, as you will need to open an account, make a deposit and decide which asset you want to invest in. You will then need to determine how much you want to invest and the broker will facilitate the purchase on your behalf.
Alternatively, some traders prefer to use cryptocurrency brokers who offer CFD products. This allows you to invest in cryptocurrencies without owning the underlying asset! This means you don't have to worry about storing coins.
How to start investing in Shiba Inu in India?
Investing in Shiba Inu in India with a digital currency CFD broker is a very convenient and easy option. As with other CFD products such as stocks and other commodities, you will not own the underlying asset. Instead, you are simply contemplating which direction the markets will go.
For example, if you like the good looks of Shiba and the headlines are about Shiba, and you think its value will rise over the coming days or weeks, CFDs are a great way to make that easier. It is important to note that CFDs allow you to invest quickly and cheaply in Shiba. What's more, CFDs give you the ability to leverage as well as long sales (you use them if you think the Shiba rate will go up) and short sales. As far as leverage is concerned, you can trade twice as much as you have in your account.
Short selling refers to the process of speculating about the decline in the value of an asset. For example, if you think that Shiba is currently overvalued and therefore its price will drop in the coming weeks, you will need to sell the asset shortly.
The only way to do this is by using a cryptocurrency broker that specializes in CFDs. This process is very similar to standard market investing, but in reverse order. In other words, you will first need to place a sell order and then a buy order when you decide to exit the trade.
How to Invest in Shiba in India?
To invest in Shiba follow next steps:
- Choosing a broker. First and foremost, you will need to choose the cryptocurrency broker that best suits your needs.
- Register. You need to enter your last name and first name, as well as your email address, which you will need to confirm using the link.
- Opening an account. It is not necessary to open a real account right away. To start trading on the CFD platform, it is recommended to open a demo account - a free trial account that will help you learn how the investment market works without risking your money. Then, after practicing on a test account, you can proceed to opening a real account.
- Making a deposit. Once your account has been verified by a cryptocurrency broker, you need to deposit funds. Payment methods include debit / credit card or bank transfer. Some brokers also support e-wallets such as Paypal and Skrill.
- Invest in your chosen currency!
Should traders invest in Shiba Inu in India?
It is interesting to make a forecast for the project for the near future and understand its future prospects. You do not need to be able to predict to say that while the market is in an uptrend, the price of the coin will rise. But when a period of global correction comes, the state of affairs will depend on large investors and, of course, the coin community. As long as the whales keep coins in their wallets and the number of addresses grows, your investment is safe. However, this can be said about almost any blockchain project.
On the portal cryptonew.ru you can see an optimistic forecast for 2025, according to which SHIB will go up in price very actively. Believe it or not, everyone's business.
How to Buy Shiba Inu in India right now?
The Shiba Inu team managed to get a huge number of people interested in the project. More than 2 million people have subscribed to the coin's Twitter account. Now you can easily buy Shiba Inu and make a profit by making your first trade! Trading with CFDs will allow your trades to be completed very quickly and bet not only on the growth, but also on the decline in the Shiba Inu price.
You can easily replenish your deposit. In addition, anyone can open a free demo account that does not require an initial investment. It allows novice traders to practice and understand the market. Finally, you can start trading with only a small capital, and use the support of a broker at any time! Take action! We wish you profitable deals!