In this article, we’ll get to know more about the Shiba Inu token and from where one can buy Shiba Inu token
With the rise of Dogecoin, we are witnessing a boom in the cryptocurrency market. In these times, various new coins and tokens are entering the market to lure the advantage of a boom period. Shiba Inu is one of those tokens. the said token is currently trading at $0.00001916 and shown a decrease of around 34% in the last 24 hours.
This is what has been the nature of this ecosystem. Earlier on 11th May, the token showed a surge of 120% since the day before and a growth of around 1900% since a week before.
Introduction to this viral token
There is no much information available about the viral token. It is run on the Ethereum blockchain. From their website, one could see that it is an experiment in the DiFi world to create a decentralized community. Its aim is to make the meme-dog cryptocurrency a serious trading token in the market.
The website also gives a hint at their thinking of Dogecoin by looking at the nickname for the token, the Dogecoin killer. By reading the content on the website, one also comes across an interesting point that, the developers have traded 50% of the total supply of the token to Vitalik Buterin, the co-developer of Ethereum. from the sudden spike in the prices of this token, Buterin’s net worth rose to $11 Billion.
The website also informs the reader about their own DEX, ShibaSwap on which the said token is already listed. the website also informs about the next token in line to get released, BONE.
Where can I buy Shiba Inu token?
One can only buy Shiba Inu token from the Uniswap Platform as the remaining 50% of the total supply of the crypto is locked to Uniswap. The platforms like CoinDCX, Binance, and Coinbase, etc can be used by individuals to trade in the said crypto. But firstly traders have to connect their cryptocurrency wallets to the Uniswap platform. After the process of integration, one can use ETH to buy Shiba Inu tokens. note that Ethereum can be bought on any exchange but fees will be imposed on transferring it to one’s wallet.
Shiba Inu is not available to trade in the countries like India yet but looking at the popularity of the token, it will ultimately become available to trade there.
It is highly advised to not block your money in crypto like these for a long period of time due to their high volatile nature. The sudden growth in the Shiba Inu token was due to its low prices after entering the market. People bought this token in bulk and that created a shortage for the same in the market. creating shortage was also the sole motive behind giving 50% supply to Ethereum co-founder. Hence its price rose. But the prices have gone down in the last 24 hours. So invest wisely.
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