Shiba Inu has always been in the headlines regarding the crypto market. And hence, it is crucial to go through the memecoin in detail before investing in it.
Wondering- “Will Shiba Inu Coin Reach $1?” or “What Is A Shiba Inu?”
Read the article below and get answers to all your questions now!
What Is A Shiba Inu Crypto?
The term “Shiba Inu” refers to a Japanese breed of hunting dog known for its fox-like appearance and spirited personality. When it comes to the world of cryptocurrencies, “Shiba Inu coin” (SHIB) is an Ethereum-based altcoin that has adopted this breed as its mascot. Shiba Inu coin is often discussed in the context of meme coins, and it’s frequently compared to Dogecoin. Some supporters even refer to the Shiba Inu coin as “the Dogecoin killer,” sparking curiosity about its potential future and whether it will reach $1.
In the world of crypto, Shiba Inu is classified as a meme coin. Shiba Inu has grown significantly, largely due to a dedicated community known as the SHIBArmy.
How To Get A Shiba Inu?
Want to make the SHIB a part of your crypto wallet? Here’s how you can do it!
- Choose an Exchange: Pick a cryptocurrency exchange where Shiba Inu coin is available, such as Binance, Coinbase, KuCoin, or Kraken.
- Create an Account: Sign up on your chosen exchange platform.
- Purchase SHIB: Buy Shiba Inu coins using traditional payment methods or other cryptocurrencies.
- Connect to ShibaSwap: Link your wallet to ShibaSwap, a decentralized exchange for buying and trading SHIB tokens.
Must Read: 8 Best Crypto Wallets In The World | How To Protect Your Wallet?
Will Shiba Inu Coin Reach $1?
As an investor, you might be wondering whether Shiba Inu has the potential to cross $1 at any point in the future. Well, to be honest, given its current price and market behavior, this goal seems challenging. The coin’s price is currently much below $1, and reaching this milestone would require a huge increase in its market value and widespread adoption.
Suggested Read: Will Shiba Inu Reach 2.5 Cents? | SHIB Price Prediction
Current Price Of SHIB
At the time of writing, SHIB was trading for $0.00001316. Even though this price marks a 1.3% increase, this rate is still much below the most-wanted $1 mark. The market cap of the memecoin was $7,755,474,413 with a 24-hour Trading Volume of $202,089,174.
Hence, the Shiba Inu coin would need to become very popular and useful to reach $1. Additions like new technology, more ways to use the coin, and wider acceptance would be key in deciding if it can hit that price.
Shiba Inu Coin Future
The future of the Shiba Inu coin is still up for debate. The coin has a strong community and several ongoing projects, like Shibarium, a Layer 2 blockchain that aims to improve speed and reduce transaction costs. It also has other tokens such as Leash (LEASH) and Bone (BONE), as well as platforms like ShibaSwap and Shiba Eternity, a collectible card game.
However, even with these advancements, Shiba Inu coin’s future is uncertain because cryptocurrencies are very volatile and meme coins are often unpredictable.
Conclusion
In conclusion, while Shiba Inu coin’s future is uncertain and reaching $1 is challenging, its strong community and ongoing projects could influence its potential. Stay informed and cautious before investing. To get more information on the same, check out ReadingCrypto!
