Also known as “The Dogecoin Killer,” Shiba Inu is a meme coin that has seen unexpected growth in a very short time. After its listing on Binance on May 10, 2021, the social media hype and its passionate community skyrocketed this coin’s price by an incredible 164% growth.
The day before its listing on Binance, the coin was trading at $0.000014. But after listing, the price skyrocketed in a single day to the all-time high value of $0.000037. And now, it has become the favorite meme coin for crypto investors to trade and invest in.
So if you also want to know how to buy Shiba Inu coins most easily and simply, this detailed guide will help you. But before investing in this coin, here is everything you need to know about it.
- How to buy Shiba Coins directly through Coinbase?
- What is Shiba Inu Coin and Why is it so popular?
- What is the current price and market supply of Shiba Inu Coins?
- Where can you buy Shiba Inu Coins?
- Is Shiba Inu Coin a Good Investment? – Market Analysis and Prediction
How to buy Shiba Coins directly through Coinbase?
As Shiba is an altcoin based on the ETH network, you can only exchange it with significant cryptocurrencies like ETH or USDT. Then you can swap it for Shiba coins on the same or any other altcoin exchange platform supporting this currency. But fortunately, Coinbase listed this currency last year. So, now you can directly buy it from Coinbase without buying any other cryptocurrency.
Follow this step-by-step guide to buying SHIB coins on Coinbase in the simplest way:
Step 1: Create an account on Coinbase
- As a new user, you have to register on the Coinbase website. Open this link on your device and enter your email id & other details. Click on the “Register” button to create an account. If you have any referral code, enter it while signing up to get free $10 worth of BTC on the trading of $100 BTC.
- Open your registered email id to confirm the verification email and add your mobile number as two-factor authentication while logging into the app. After login, follow all the instructions to complete the automated KYC process (which takes around 15-30 minutes).
Step 2: Add a Payment Method to Coinbase Account
Once your KYC is completed, your Coinbase wallet is functional. But to buy any crypto, you first have to add money to your wallet, for which you have to link a payment method. To connect a payment method, follow these steps:
- Go to Coinbase account settings by clicking on the “Setting.” Choose the “Add a payment method” option.
- There are various payment method options available in Coinbase (varying from country to country), like Paypal, Credit/Debit Card, Bank transfer, Wire Transfer, etc. You can choose Paypal or the credit/debit card option for instant and small purchases. You can opt for wireless or bank transfer with low fees but more processing time for large transactions.
- After selecting a suitable option, enter the required details, and now you can use this payment method to add money to your Coinbase wallet.
Step 3: Start Trading on Coinbase
- To initiate a trade, click on the “blue arrow swap” icon (trade icon) in the middle of the bottom bar.
- Click on the “Buy” option to purchase the desired crypto from the available list of options.
Step 4: Choose Shiba INU as Cryptocurrency to Buy
- Choose “Shiba INU” as the cryptocurrency to buy from the list of assets. Or you can type SHIB in the search bar if you do not find the option in the list and click on the result.
Step 5: Enter the Amount of Shiba Coins You Want to Purchase
- On the trading page, you can see the current price of the Shiba coin and how much you have to pay in your local currency to buy one coin. Enter the amount of Shiba coins you wish to purchase using the number pad.
- Based on the amount of Shiba coins, the total amount in your local currency will reflect on the screen, along with processing fees and other charges. Choose your payment method and click on “Preview Buy” to complete your purchase.
Step 6: Check All The Details & Finalize Your Purchase
- On the Final Payment Page, Check all the details including the processing fee, payment method, Coinbase fee, etc. If satisfied with the details, click on the “Buy Now” option to complete the purchase, and that’s it. You have successfully bought Shiba Coins directly on Coinbase without swapping any other cryptocurrency.
1. How is the Shiba INU network safe and secure for trading?
The continuous hype and rise of Shiba Inu coins make people worried if this coin is a scam or not? Fortunately, Shiba Inu is a safe and secure token to buy as it is built on the popular ETH network. Also, the coin is developing its layer-two solution named Shibarium (Shiba L2), which will be more decentralized than BSC or polygon to make the Shiba INU server more secure against hacking incidents.
2. Who are the founders of SHIB INU?
The person behind this coin is known as Ryoshi, but it is not confirmed whether Ryoshi represents an individual or a group of people. In Ryoshi Research’s blog, the person characterizes himself as a guy who plays multiple roles like a CEO, a tech guy, and a person behind the roadmap of this coin.
He also said that no one person is accountable or responsible for this coin. According to Ryoshi, his primary job is to defend the coin and give suggestions to build it, and that is why he declines all the pitches and influencer requests he gets from different crypto exchange platforms.
3. Will SHIBA INU hit a $1 value?
For any meme coin, it is unlikely to hit a $1 value despite its vast popularity and price surge. Currently, the Shiba coin has a value of around $0.000013 per coin, and to hit the $1 mark, it has to increase approximately by 30% every year, with 2-3% of the coins burned yearly.
As the price of the Shiba coin is hitting lower again this year, the investors are hoping that the coin will bounce back soon with an incredible rise. But, as cryptocurrencies are highly volatile, it will be risky to make any such assumption about this coin at such a moment.
4. Is it possible to buy Shiba coins with cash?
While it’s not currently possible to buy Shiba coins directly with cash, you can easily buy the coin directly on Coinbase or Localbitcoins with fiat money transfer. I’ve explained the exact working steps in this article for your reference. So by using such platforms, you can buy any major cryptocurrency and then exchange it on any altcoin exchange platform that supports Shiba coin trading to buy the currency.
5. How much will the Shiba coin be worth in 2025?
If we analyze the historical growth of this coin, the Shiba coin will indeed boom in upcoming years. After the incredible rise, the coin’s price has fallen in 2022, and thus more and more investors are investing in it. As the platform will grow its decentralized exchange system and other features in the upcoming year, the coin will gain more attention, and by the end of 2025, its value can hit a maximum of $0.00071.
What is Shiba Inu Coin and Why is it so popular?
Like many other meme coins, Shiba Inu is an ERC-20 meme coin built on secure and one of the most extensive blockchain networks – Ethereum. Shiba Inu is an altcoin of Dogecoin, which is an altcoin of Bitcoin. The coin was launched in August 2020 by an anonymous person known as Ryoshi, and in no time, the coin became one of the highest growing cryptocurrencies among the top 100 currencies.
So what makes this coin so popular compared to other meme coins? The answer is its passionate community and particular dog theme that inspired millions of people to invest in it. The coin is named after a Japanese Dog Breed named Shibu – A very special and cute dog. The coin gained so much popularity because of its cute charm and popular headlines & tweets by Elon Musk and Vitalik Buterin.
The coin was designed and launched as a rival of Dogecoin and is thus known as the “Dogecoin Killer”. People believed that Vitalik Buterin was behind the origin of this coin for a long time, but he denied all these rumors on June 5, 2021.
As the coin is based on the Shiba dog theme, its community has all the dog-inspired artists that bring this coin to the NFT marketplace to support live Shiba dogs through their artistic movements. The platform has also used Amazon smile to create a campaign to collect donations for living Shiba dogs to rescue them and improve their lives. This coin’s tremendous success and popularity inspired miners to generate more than 100 copies of Shiba coins like Shubalana, SHIBAVAX, SpookyShiba, etc.
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What is the current price and market supply of Shiba Inu Coins?
The price of the Shiba Inu coin is $0.000013, with a rise of 3.04% in the last 24 hours. The current trading volume of Shiba Inu on Coinmarketcap is $464,061,204. The coin is ranked at #12, with a total circulating supply of 549,063,278,876,302 Shib coins. [Stats as of Aug 23, 2022]
Ryoshi (the anonymous founder of Shiba) gave 50% of the SHIB coin supply to Vitalik Buterin (founder of Ethereum) as a gesture of faith. The rest was put back into the decentralized exchange platform. However, after some time, Vitalik burned 90% of them, increasing the scarcity and value of a coin. And the rest 10% was donated to the Covid-19 relief fund (around 50 trillion coins). The scarcity of this coin was the major reason behind the incredible increase in its token value.
Where can you buy Shiba Inu Coins?
Currently, the Shiba Inu coin is listed on over 100 crypto exchange platforms worldwide for trading, out of which some major ones are:
- Coinbase Exchange – SHIB/USDT
- Binance – SHIB/USDT, SHIB/DOGE
- Gate.io – SHIB/USDT
- OKX – SHIB/USDT
- Uniswap – SHIB/ETH
- Bybit – SHIB/USDT
- CoinTiger – SHIB/USDT
- FTX – SHIB/USD
SHIB coin was listed on the largest US-based crypto exchange platform called Coinbase on 17 Sept 2021, and after two days of listing, the coin value increased by 40%. Similarly, the coin gained attention from many other famous International crypto exchange platforms planning to list this coin soon on their platforms. Some of them are:
- Bitstamp – Europe’s Biggest Crypto Exchange Platform (will start trading SHIB from this year).
- Korbit – South Korea’s popular and first crypto exchange platform that listed SHIB on its platform in 2021.
- Giottus – an Indian crypto exchange platform that will start trading SHIB from Sept 2022.
Is Shiba Inu Coin a Good Investment? – Market Analysis and Prediction
One of the biggest questions on the Internet these days is whether the “Shiba coin is the next big cryptocurrency?” The answer to this is a little tricky. But if we analyze the past growth of this coin, it won’t be wrong to say that the currency has all the potential to be the next prominent cryptocurrency.
The coin witnessed the perfect start, with an incredible growth of 27,000% after a few weeks of its launch. On October 28, the coin attained its all-time high value of $0.00008 with a market capitalization of over $34.29 billion, as it was listed on most crypto exchange platforms.
Last October, the coin price fell by a noticeable margin, but as the platform is organizing SHIB burn parties and selling merchandise and NFT tokens, the coin will soon gain the attention of large whales. The company has burned over one billion Shiba coins, and if this continues for a few years, the coin can hit the $1 mark. So, it will be interesting to see whether the coin will keep up with investors’ expectations or the bubble will burst like many other meme coins.
Disclaimer: All the prices and data provided in this article are based on the coin’s current growth and by no means is financial advice for anyone. Traders should do their research before investing in any kind of cryptocurrency.