Shiba Inu (SHIB) is a cryptocurrency that was created in August 2020 by an anonymous person or group known as “Ryoshi”. Inspired by the popular meme coin Dogecoin (DOGE), Shiba Inu aims to be an Ethereum-based alternative that is more scalable, community-driven, and decentralized. Shiba Inu is also part of a larger ecosystem that includes projects such as ShibaSwap, a decentralized exchange; Shibarium, a layer 2 blockchain; ShibaNet, a decentralized marketplace; and ShibaArt, an NFT art incubator. You can learn more about Shiba Inu on the Shiba Inu website. Many investors are wondering if SHIB is a good investment, how to buy SHIB, and where to buy SHIB. In this article, we will answer these questions and provide you with a comprehensive guide on how to buy and sell SHIB.
‍

Buy Shiba Inu (SHIB)

Buying Shiba Inu

Shiba Inu is one of the most popular and controversial cryptocurrencies in the market. It has attracted millions of fans, who call themselves the “Shib Army”, as well as critics, who dismiss it as a joke or a scam. SHIB gained a lot of attention and popularity in 2021, thanks to the endorsement of celebrities such as Elon Musk and Vitalik Buterin. SHIB reached its all-time high of $0.0000388 on May 10, 2021, after being listed on major exchanges such as Binance, Coinbase, and Huobi. However, SHIB also experienced a significant drop in price after Buterin, who received 50% of the total supply as a gift from the SHIB developers, donated and burned most of his SHIB holdings, causing a shockwave in the market.

SHIB is still one of the most traded and searched cryptocurrencies in the world. As of September 22, 2023, the market capitalization of Shiba Inu is $4.35 billion. This makes it the 17th largest cryptocurrency by market capitalization.

Why Should I Buy Shiba Inu?

With its dramatic price increase over the last year, Shiba Inu has garnered significant attention from cryptocurrency investors. There are several compelling factors that could make SHIB a worthwhile addition to a speculative portfolio:

Momentum and Hype: Powering much of Shiba Inu’s massive gains has been the hype and popularity it continues to build online. As a so-called “meme coin” directly associated with Dogecoin, SHIB taps into the powerful momentum of internet culture. Its army of devoted fans relentlessly spread the word on social media, generating fresh buying pressure. For traders betting on this momentum to continue, SHIB remains attractive.
Meme Power Upside: Closely tied to its momentum is Shiba Inu’s potential for viral meme-driven spikes. A single tweet or Reddit post from the right influencer has proven enough ignition in the past. With SHIB still in millions of portfolios, it wouldn’t take much to light the fuse again. Savvy traders keep some SHIB on hand just in case the next meme wave comes, ready to catch a quick ride higher.
Ultra-Low Entry Point: At around $0.000009, each Shiba Inu coin remains absurdly affordable to almost any budget. This massive supply gives the crypto a unique risk-reward profile – even small fractional moves in price translate to significant percentage gains. For traders with extra cash to “play” with SHIB offers a very low-risk lottery ticket that could pay off in a big way.

Of course, Shiba Inu remains an extremely high-risk gamble due to its unpredictable nature. But for those willing to tolerate that risk, SHIB’s combination of momentum, memes and affordable entry continue making it compelling in the eyes of some investors.

‍

How to buy Shiba Inu: A step-by–step guide

Before you can buy SHIB, you need to have a cryptocurrency wallet that supports SHIB and an account on a cryptocurrency exchange that offers SHIB trading pairs. Here are the steps you need to follow to buy SHIB:

Choose a wallet: A wallet is a software or hardware device that allows you to store, send, and receive cryptocurrencies. You will need a wallet that supports Shiba Inu and Ethereum, as Shiba Inu is an ERC-20 token that runs on the Ethereum network. Some of the most popular and secure wallets that support Shiba Inu are MetaMask, Trust Wallet, Coinbase Wallet, and Ledger.
Choose an exchange: An exchange is a platform that allows you to buy, sell, and trade cryptocurrencies. You will need an exchange that supports Shiba Inu and your preferred payment method, such as fiat currency, credit card, or bank transfer. Some of the most popular and reputable exchanges that support Shiba Inu are Binance, Coinbase, KuCoin, and Huobi.
Create an account: To use an exchange, you will need to create an account and verify your identity and address. You will also need to provide some personal and financial information, such as your name, email, phone number, and bank details. Depending on the exchange and your location, this process may take from a few minutes to a few days.
Deposit funds: To buy Shiba Inu, you will need to deposit some funds into your exchange account. You can do this by using your preferred payment method, such as fiat currency, credit card, or bank transfer. Depending on the exchange and your payment method, this process may take from a few seconds to a few days.
Buy Shiba Inu: To buy Shiba Inu, you will need to find the trading pair that matches your deposited funds and Shiba Inu, such as USD/SHIB or ETH/SHIB. You will then need to enter the amount of Shiba Inu you want to buy and confirm the transaction. Depending on the exchange and the market conditions, this process may take from a few seconds to a few minutes.
Transfer Shiba Inu: To secure your Shiba Inu, you will need to transfer it from your exchange account to your wallet. You can do this by copying your wallet address and pasting it into the withdrawal section of your exchange account. You will then need to enter the amount of Shiba Inu you want to transfer and confirm the transaction. Depending on the exchange and the network congestion, this process may take from a few minutes to a few hours.

Where to buy Shiba Inu

There are many places where you can buy Shiba Inu, but not all of them are equally safe, reliable, and convenient. Here are some of the best places to buy Shiba Inu, based on factors such as security, fees, and payment options:

Binance: Binance is the world’s largest and most popular cryptocurrency exchange, with over 100 million users and over 500 trading pairs. Binance supports Shiba Inu and allows you to buy it with fiat currency, credit card, or other cryptocurrencies. Binance also offers low fees, high liquidity, and advanced trading features, such as margin trading, futures trading, and staking.
‍
Bybit: Bybit is the world’s leading and most trusted cryptocurrency platform, with over 68 million users and over 50 supported cryptocurrencies. Bybit supports Shiba Inu and allows you to buy it with fiat currency, credit card, or bank transfer. Bybit also offers high security and user-friendly interface.
‍
KuCoin: KuCoin is one of the world’s fastest-growing and most innovative cryptocurrency exchanges, with over 10 million users and over 400 trading pairs. KuCoin supports Shiba Inu and allows you to buy it with fiat currency, credit card, or other cryptocurrencies. KuCoin also offers low fees, high liquidity, and diverse trading features, such as spot trading, margin trading, futures trading, and lending.
‍
Huobi: Huobi is one of the world’s oldest and most reputable cryptocurrency exchanges, with over 5 million users and over 300 trading pairs. Huobi supports Shiba Inu and allows you to buy it with fiat currency, credit card, or other cryptocurrencies. Huobi also offers high security, high liquidity, and various trading features, such as spot trading, margin trading, futures trading, and staking.

‍

Investing in Shiba Inu

Shiba Inu is not only a cryptocurrency, but also an investment opportunity. However, investing in Shiba Inu is not without risks and challenges. Here are some factors to consider and potential risks and rewards of investing in Shiba Inu:

Factors to consider:

Market trends: Shiba Inu is influenced by the overall market trends and sentiments, as well as the performance and news of other cryptocurrencies, especially Dogecoin and Ethereum. You should keep an eye on the market movements and indicators, such as price, volume, market cap, and dominance, to identify the best entry and exit points for your investment.
Project development: Shiba Inu is constantly evolving and expanding its ecosystem, with new projects and updates being launched or announced regularly. You should follow the project development and progress, as well as the roadmap and vision, to evaluate the potential and value of Shiba Inu.
Technical analysis: Shiba Inu is subject to technical analysis, which is the study of the price patterns, trends, and signals, using various tools and indicators, such as charts, candlesticks, moving averages, oscillators, and pivots. You should use technical analysis to identify the support and resistance levels, the trend direction and strength, and the possible price movements and targets for Shiba Inu. You can also check our Shiba Inu technical analysis page for more insights and tips.
Risk management: Shiba Inu is a risky and volatile asset, which means that it can experience significant and sudden price fluctuations and reversals. You should use risk management techniques, such as diversification, stop-loss, take-profit, and position sizing, to protect your capital and profits, and to minimize your losses and exposure. You should also only invest what you can afford to lose, and never invest more than you are willing to risk.

Therefore, before you invest in SHIB, you should do your own research, understand the fundamentals and the potential of the project, and assess your risk tolerance and investment goals. You should also diversify your portfolio, invest only what you can afford to lose, and use a reliable and secure platform to buy and sell SHIB.