In this I’m going to answer some questions related to Shiba Inu coin such as what is shiba inu coin, future of shiba inu coin and how you can buy shiba inu in India.
From the past few months, shiba inu coin has gained so much of popularity, that it’s price is increasing day by day. The constant growth of shiba inu is attracting every trader or investor to buy or invest in this coin. But, before investing you should have complete knowledge about Shiba Inu Token. That’s why, I’ve brought this article for you.
So, if you want to know about “what is shiba inu coin” then read this article till the end.
What is Shiba Inu Coin?
Shiba inu is a meme coin which was founded in August, 2020 by an unknown person called Ryoshi. It was created as a competitor to Dogecoin or “Doge-killer”. It was named shiba inu over a breed of dog, a Japanese hunting dog, Shiba Inu.
Shiba Inu is decentralised, community-building Cryptocurrency and it’s based on Ethereum-blockchain. According to its official site, it is an experiment to make a decentralised spontaneous community.
Shiba Inu is not a coin, it’s a token : Many people call shiba inu a coin but it’s a token. As it runs on Ethereum-blockchain, it doesn’t have its own blockchain like Dogecoin.
How many Shiba Inu Coin are there in market?
At the time of writing, there are approximately 549,063,278,876,302 Shiba Inu tokens in circulation.
Difference between Shiba Inu and Dogecoin
| Shiba Inu | Dogecoin | |
| Founded | In 2020 | In 2013 |
| Developed | Shiba Inu runs on Ethereum-blockchain | It runs on Bitcoin-blockchain technology |
| Availability | 549,063.28B | 132.67 billion |
| Type | A token | A coin |
| Purpose | It was created to make fun of Dogecoin. | Was created to make fun of bitcoin. |
Shiba Inu price today
Today on 15, Jan, 2023. At the time of writing, the price of a Shiba Inu Token according to coinmarketcap.com is $0.00001009
Future of Shiba Inu Token
As we know, Shiba Inu is a meme coin which means it’s not fundamentally strong. If Shiba Inu has to become one rupee, then its market value will be 5 trillion dollars. At the time of writing, the market cap of whole crypto is approximately 1.9 trillion dollars. Will it overcome the entire crypto market? Does it have that much potential?, I don’t think. If shiba has potential for 1000% growth then it also has potential to -1000%. So, if you invest in shiba inu, invest at your own risk or after getting complete knowledge about it.
Disclaimer: The information provided in this article is for education purposes only and doesn’t constitute investment advice. So, if you want to invest or trade in any Cryptocurrency, invest at your own risk. CoinGyani will not accept liability on loss or damage, which may arise directly or indirectly using such information.
FAQs
Is shiba inu good investment?
In the short term it may give you a good return, but if we talk about the long-term I don’t think shiba inu is a good investment. As it’s just a meme coin and not fundamentally strong.
How much is Shiba Inu coin in USD?
Currently, 1 shiba inu is equal to $0.00001009 dollars.