Where To Buy Shiba Inu: Top 7 Exchanges for 2022

ByI. Mitic
March 21, 2022

The world of cryptocurrency is constantly growing and changing with new technologies. As of 2022, there are approximately 10,000 types of cryptocurrency coins, up from just a handful back in 2013. With so many new tokens coming out, what makes Shiba Inu (SHIB) a coin to start investing in?

And if you’re already looking for where to buy Shiba Inu, which exchanges would be the best choice?

There are a large number of platforms where one can buy Shiba Inu. Thanks to its popularity, you can likely find it available to buy and trade on any major cryptocurrency exchange.

Binance

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Binance Logo
OVERVIEW

Binance is one of the largest cryptocurrency exchanges and offers several cryptocurrency pairs for users to obtain SHIB. While the platform is known for being a little difficult for beginners, there are plenty of resources available to help you get started.

Purchase SHIB
On Official Website

Coinbase

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Coinbase Logo
OVERVIEW

Coinbase, too, is one of the most well-known cryptocurrency exchanges of today. The platform makes it extremely easy to exchange any cryptocurrency, including SHIB. While some people have complained of high fees and occasionally poor customer service, it’s still one of the most secure ways to trade cryptocurrency and get your hands on SHIB.

Purchase SHIB
On Official Website

KuCoin

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

KuCoin Logo
OVERVIEW

KuCoin offers much lower trading fees than its competitors, making it a solid option for buying and trading SHIB. It also offers a unique reward system that enables users to earn bonuses by staking or lending their crypto with peer-to-peer trading.

Purchase SHIB
On Official Website

Huobi Global

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Huobi Global Logo
OVERVIEW

Huobi Global offers an expansive ecosystem for experienced traders. It’s currently one of the most liquid crypto exchanges in the world with extremely high activity. Users can quickly deposit their funds and purchase SHIB, but it may take some time to understand all of the advanced features of this platform if you’re a new trader.

Purchase SHIB
On Official Website

Bithumb

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Bithumb Logo
OVERVIEW

Despite a rather complicated signup and verification process, Bithumb is a well-known cryptocurrency exchange based in South Korea. It has lately received many positive reviews. It’s a great option to purchase SHIB and a variety of other coins that may be more difficult to obtain in the US.

Purchase SHIB
On Official Website

Kraken

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Kraken Logo
OVERVIEW

Kraken is an excellent choice for both new and existing cryptocurrency investors, thanks to the low fees and access to a wide variety of coins. It supports spot trading and even cryptocurrency futures, making it a fantastic platform to start building a large SHIB position.

Purchase SHIB
On Official Website

FTX

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

FTX Logo
OVERVIEW

FTX is well-known for its low fees and a great selection of assets. It has plenty of advanced features for experienced traders, but can also be an approachable platform for anyone looking to get started with trading. It’s a good option for purchasing SHIB and has plenty of positive reviews to give you peace of mind.

Purchase SHIB
On Official Website

What Is Shiba Inu?

Shiba Inu is an Ethereum-based cryptocurrency. It’s known as an altcoin, which is basically a name for any cryptocurrency that isn’t Bitcoin. It’s also known as a meme coin, meaning that it was originally conceived as a result of an internet meme.

In this case, the theme is the popular Shiba Inu dog. While this famous Japanese dog breed itself isn’t a meme, it has been featured in many iconic internet pictures.

As a result of its status as a meme coin, many investors and cryptocurrency enthusiasts have deemed it unworthy of serious consideration. Since the value of a meme coin can fluctuate wildly, many investors find it hard to build a large position in the coin because the value could change drastically over a couple of years.

Shiba Inu is also known as an ERC-20 token. This essentially means that it runs on the Ethereum blockchain, hence why it’s known as an Ethereum-based cryptocurrency. It was created in August 2020 by Ryoshi. It’s currently unknown whether this is a group or an individual.

Why Was Shiba Inu Created?

Shiba Inu was created with the purpose of preserving decentralization. Decentralization is one of the biggest selling points of cryptocurrency, giving it the ability to function without being impeded by authoritative institutions such as banks and government bodies.

This prevents it from being monopolized and gives more power to regular individuals who want to buy, trade, or use the currency. Shiba Inu runs on the Ethereum blockchain because it’s well-established and allows it to remain independent.

What Is SHIB Worth?

As of writing this post, SHIB is worth $0.00002144, with a market cap of $11,773,475,648. It reached an all-time high of $0.00007482, with a market cap of $41 billion in October 2021.

While both coins are themed around the popular Shiba Inu breed, Shiba Inu and Dogecoin (DOGE) are completely separate projects. However, they do share the status of meme coins.

The first popular meme coin was Dogecoin, which currently sits at $0.12. The highest it has reached was $0.64 on May 7, 2021. Although it originally started as a joke, the coin has been given a lot of publicity thanks to Elon Musk: It would jump in value every time the Tesla founder tweeted about it.

In January 2022, he even made an announcement that some Tesla products could be purchased with Dogecoin.

Memecoins are typically made as jokes, but with widespread adoption from reputable influencers, they can quickly take on a life of their own and begin growing out of raw popularity. This is what happened with Dogecoin and could easily happen to Shiba Inu as well. 

Why Should You Buy Shiba Inu?

Shiba Inu is currently growing in popularity as a meme coin. It has a well-known mascot and is starting to build a large and loyal following. But should you invest in Shiba Inu, or is it doomed to forever be a meme coin with no real value? No one can tell you that for sure, but here, we’ll examine some of the reasons you might want to start investing in this coin now.

The technology behind SHIB is starting to grow

Cryptocurrencies need to keep up in terms of technology if they want to appeal to a larger audience. After all, the value of a coin needs to be relative to its real-world use and not just the fact it has a cute dog as a symbol.

Thankfully, the team at Shiba Inu hasn’t forgotten about this. They have recently launched a decentralized exchange called ShibaSwap that was created for users to stake their SHIB tokens in exchange for interest. In addition, they have also announced plans to enter the Layer-2 space with its own network focused on scalability.

This is extremely promising for Shiba Inu’s future and is proof that the team wants it to go beyond the status of just a meme coin.

But although the technology is certainly promising, it doesn’t mean that Shiba Inu is guaranteed to be worth a lot of money in the future. As with all cryptocurrencies, the value of this coin will depend on the decisions the team makes in the next few years.

If anything, the team’s willingness to improve on the technologies surrounding Shiba Inu is a promising sign of things to come.

There is an ecosystem surrounding SHIB

Shiba Inu isn’t just a single cryptocurrency – the SHIB currency has a growing ecosystem surrounding it, projects such as the above-mentioned ShibaSwap platform and two other associated tokens: Leash (LEASH) and Bone (BONE).

Leash is the second token in the Shiba Inu ecosystem, with 107,646 tokens - a much lower number compared to the trillions of Shiba Inu tokens. Bone has a total supply of 250 million tokens and is designed to be a governance token that allows the ShibArmy community to vote on upcoming proposals.

In addition to these tokens, Shiba Inu also has the Shiba Inu Incubator, a platform that “allows holders to find the tools they need to bring their inspiration and unique perspectives to life.” While this sounds a little vague, it shows that the team at Shiba Inu has long-term plans to grow its community and push its coin out of its status of just a meme coin.

Lastly, there are also the Shiboshis. These are 10,000 Shiba Inu-generated nonfungible tokens that have been written on the Ethereum blockchain. These have different traits, making each of them completely unique and giving them a collectible quality.

NFTs have grown massively popular over the past few months, and the Shiboshi collection aims to take advantage of the trend and attract potential NFT investors to the coin. Again, this shows the team’s ability to identify and take advantage of trends in order to grow the value and presence of its coin.

Shiba Inu is in a unique position thanks to the community surrounding it. As more people talk about the coin and its related projects, the value of the coin will begin to rise thanks to social media speculation.

The team’s push into NFT territory also gives it more presence in the cryptocurrency world. As the community grows stronger, so do the networking opportunities, connections, and the number of investors.

SHIB is extremely cheap to invest in

One of the biggest advantages of SHIB is that a single coin is currently worth just a fraction of a cent. This means that it’s possible to buy millions of SHIB coins for just a few hundred dollars. This can represent a fantastic low-cost investment opportunity for anyone interested in altcoins or cryptocurrency in general.

It significantly lowers the barrier of entry and allows everyone to invest in cryptocurrency.

However, that doesn’t mean that the gains with SHIB are low. In fact, there are a surprising number of opportunities to make a sizable amount of profit with this coin.

In August 2020, SHIB started trading at just $0.00000000051. Given that its peak price in October 2021 reached $0.00007482, that means the coin had grown by 14,670,488%. A small $10 investment would have seen returns of $1,467,050.

While this opportunity is no longer available, it does show that SHIB has massive potential for future gains despite being such a cheap investment right now.

Another great example of this would be an unknown trader who purchased around 70 trillion SHIB tokens for roughly $8,000 back in August 2020 during its initial launch. A year later, those coins accounted for about 13% of SHIB’s total circulation of 550 trillion.

The investment gained a staggering value of $5.7 billion, equating to a roughly 7.1 million percent return.

Things To Watch Out For Before Investing

As with any investment, it’s essential to understand that there are always going to be risks involved. With Shiba Inu, the primary risk is in the coin’s status as a meme coin.

This puts it into the category of speculative investments and is further enforced by the coin’s limited utility. Much of the value of SHIB is in how it’s perceived by the general public and social media.

For example, 50% of SHIB’s token supply was initially sent to Vitaly “Vitalik” Buterin, the founder of Ethereum, on which the SHIB coin is based. While the motive wasn’t clear, people speculate that the move could have been a publicity stunt to encourage more social media activity.

Others believed that depositing so many coins into Buterin’s wallet meant that the coins would be more scarce. A couple of months after SHIB was introduced to the world, Buterin announced that he would sell $1 billion worth of SHIB tokens and donate the proceeds to charity.

He also burned about 90% of his SHIB coins and planned to donate the remaining 10% to charity.

Although the initial sale of Buterin’s SHIB coins caused the price to fluctuate, burning his remaining supply ultimately increased scarcity and the value of each coin. This social media stunt could’ve backfired immensely, but holders were fortunate that Buterin decided to burn his remaining tokens.

This is a great example of how SHIB’s value can be influenced by seemingly random social factors and events, and it should be a consideration for all investors to keep in mind.

How To Buy SHIB

The process of buying SHIB is the same as with any other coin.

  • Sign up for an account with an exchange. Once you’ve chosen a crypto exchange, register for an account.
  • Verify your account with the exchange. Exchanges will typically ask you to verify your account to start buying and trading. You may be asked to provide documentation to prove your identity.
  • Make a deposit and start buying. Depending on the exchange, you can either buy SHIB directly or you may need to buy ETH or USDT first and trade it for SHIB.

An Affordable Way To Start Investing in Crypto

In general, any investor searching for where to buy Shiba Inu should know that as a meme coin with an unpredictable value, SHIB is a risky investment. Thankfully, its low price means that anyone can build a relatively large position in SHIB and not be hit with a huge financial loss.

This makes it a good investment for people who believe in the SHIB community and are positive about its future growth, but it can also be a great place to get started with a low-cost cryptocurrency.

FAQ

Will Shiba Inu reach one dollar?

+

In most cases, a coin will only drastically increase in value if traders bid up the price. This usually won’t happen unless the functionality of the coin changes. Since the price of SHIB is mostly driven by speculation, this isn’t likely to happen.

The other way for a coin to drastically increase in price is for the supply to decrease. This already happened once in May 2021 when a large number of coins was transferred to a dead wallet, effectively burning them.

For Shiba Inu, this isn’t uncommon. Around 410 trillion Shiba Inu coins have already been burned and millions seem to be burnt every day. This means the value of SHIB will gradually increase, but it’s difficult to say whether the coin will ever reach one dollar. It’s completely possible given enough time, but it’s hard to say after just two years of the coin being in circulation.

Is Shiba Inu worth buying?

+

It could be. The value of any crypto can fluctuate wildly depending on various circumstances. SHIB’s value, in particular, is mainly driven by the burning of existing supply and social media speculation. As such, it may seem like a risky investment. However, since the cost is so low, many people have already purchased a fairly large supply of SHIB coins. 

With its value increasing and more projects being announced by the Shiba Inu team, it could very well grow in value in the near future.

Can I buy Shiba Inu on Coinbase?

+

Yes! Shiba Inu is available for purchase on Coinbase.

About author

For years, the clients I worked for were banks. That gave me an insider’s view of how banks and other institutions create financial products and services. Then I entered the world of journalism. Fortunly is the result of our fantastic team’s hard work. I use the knowledge I acquired as a bank copywriter to create valuable content that will help you make the best possible financial decisions.

More from blog


Leave your comment

Your email address will not be published.


There are no comments yet