Shiba Inu, also known as Shiba Token, has gained immense popularity in recent years. The virtual currency is inspired by Doge coin and has even received a lot of attention from the blockchain investing world. If all goes well, it might even go to the moon in June. 

The Shiba Token is supported by a large community of coin holders who support and promote the coin on social media like Reddit and Twitter. It is also emerging as a popular choice amongst investors, especially after a fall in virtual currencies like Bitcoin and Ethereum.

Shiba Inu Details 

Symbol: SHIB Market 

Cap: $2,759,764,426/Price: $0.00000699 

Shiba Inu Price in India: ₹ 0.000500

Also Read: Why is Bitcoin Trending in India? Will It Double Your Money?

Growing popularity of Shiba Inu cryptocurrency

When a Japanese kindergarten teacher took social media to post photos of her Shiba Inu dog, Kabosu, no one ever imagined that this dog would spawn millions and millions of dollars in meme-inspired cryptocurrency.

 

Shiba Inu coin 1

With a market capitalization of more than $7 billion in May, currently, there are nearly 400 trillion Shiba Inu coins in circulation, thus making it a favourite in the cryptocurrency community. Here are 5 reasons why Shiba Inu is the future of virtual currency

  • The virtual currency focuses on increasing its consumers’ earning potential. It came into being with an aim to build an ERC-20 token and ecosystem that allowed everyone to invest in it, thus ensuring it had a large flow. 
  • The creators did a fantastic job in pricing it considerably below a cent. The plan is to make the platform profitable even if it only makes $0.01. So far, the developers have been successful in this regard. 
  • We have to agree that Shiba Inu has had a fantastic start. Its main objective is to “seize the momentum in the market” and use it for future ecosystem expansion, something that it has been doing beautifully till date. 
  • Often described as a “fun and friendly Internet currency”, the get-rich-quick scenario is another reason for the growing popularity of this virtual currency as many are now looking for moonshot investments that will change their financial future. 
  • Last but not the least, since Shiba Inu coins are available in the open market, it automatically ensures a fair and complete distribution. In this case, the developers don’t own team tokens they are later dumped on the community.

How to buy Shiba Inu in India?

Shiba Inu coin

Although the Indian government has put a strict ban on Chinese products, there are platforms like Coin DCX ,Binance, and Coinbase that sell virtual currency. To get your hands on it, you will have to follow the due process:

  • The first step is to connect the supported cryptocurrency wallet to UniSwap. Now, the connected wallet has to be credited with funds of a supported cryptocurrency, either Ethereum or Bitcoin.
  • Buyers will then have to configure the currency they wish to exchange for Shiba Inu and set the slippage (price change) tolerances and the amount of time they are willing to wait for the transaction to execute at the desired settings. 
  • If the price match, users will get Shiba Inu coins of the desired amount.

Also Read: Cryptocurrency India: All You Need To Know

What do you think of virtual currency? Is it a safe investment? Write your views in the comment box.