HomeCrypto-AssetsAltcoinsIs Shiba INU Coin worth the Investment?

Is Shiba INU Coin worth the Investment?

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Shiba Inu coin (SHIB) is a cryptocurrency built on memes and is named after a dog breed. It was founded in 2020 by an unknown developer known only as Ryoshi as part of a collection of cryptocurrencies all themed around dogs. It is intended to serve as a Dogecoin replacement interoperable with Ethereum (DOGE). Specifically, according to the SHIBA INU website, SHIB promotes itself as the “Dogecoin Killer.”

SHIB is an ERC-20 token that is presently converting to a Proof of Stake consensus process from a Proof of Work mechanism. Among the components of the SHIB ecosystem is a decentralized exchange known as ShibaSwap. It also sponsors an NFT art incubator, which encourages artists from all around the globe who are inspired by dogs to introduce their Shiba Inus to the NFT market.

Shiba Inu has one quadrillion-token circulating supply for its initial public offering (ICO), with its creator Ryoshi locking half of the token into the Uniswap decentralized exchange to provide liquidity. The remaining 50 percent of the currency was transmitted to Ethereum co-founder Vitalik Buterin’s wallet, with the majority of it being burnt as a result. The Shiba Inu coin, which trades under the symbol SHIB, is accessible on the cryptocurrency exchange Binance.

What it is and How does it work?

It is compatible with the Ethereum ecosystem since SHIB is issued as an Ethereum token, a cryptocurrency. Compatibility with Ethereum wallets such as Coinbase Wallet or Metamask, availability on decentralized exchanges (or DEXs) such as UniSwap, and the potential for SHIB to be integrated into Ethereum-based Defi applications such as lending and savings products or NFT marketplaces are some of the advantages to consider.

Shiba Coin Purchasing Information

Shiba coins may be purchased by a bank transfer

Stablecoins listed on Binance may be purchased by transferring money from your account to the companies that offer the coins. After that, you may use these stable coins to buy Shiba currency on the Binance market.

Shiba coin is traded

Binance accepts deposits of more than 300 cryptocurrencies, many of which may be exchanged into Shiba coins at some of the most competitive conversion rates available in the market.

Using a Credit Card to Purchase Shiba Coin

On Binance, you may acquire Shiba coin using a credit card or a debit card without having to go via a third party. We provide the most convenient method of purchasing Shiba coins using a Visa or MasterCard.

Shiba Inu, it is the best cryptocurrency in 2022?

The bitcoin market forecasts for the year 2022 seem to be quite promising. According to estimates based on market performance in 2021, the year 2022 is expected to be a positive one. The cryptocurrency sector had phenomenal growth in 2021, with the number of cryptocurrency users projected to have quadrupled to more than 300 million. It is also the year when the number of new coins has increased at an unprecedented rate.

Shiba Inu coin’s value increased from US$0.000007 to US$0.00008 in only 25 days during October 2021 alone. That represents an increase in value of more than 1000 percent. Even though SHIB’s price has plummeted to $0.00003452 at the time of writing, the prognosis is for a significant resurgence in 2022.

CryptoPredictions.com, the Shiba Inu cryptocurrency, is expected to surpass its previous all-time high and reach US$0.000084 in the first quarter of 2022. The expansion is predicted to continue through the third quarter of 2022 when it is expected to hit another all-time high (ATH) of US$0.000088.

Shiba Inu is expected to lose another zero by the end of 2022, bringing its value down to US$0.0001. This implies that the projection is for Shiba to gain by 163 percent over the following 12 months, making it one of the most significant cryptocurrencies in 2022.

Disclaimer

The information provided in this article is only the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

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