• Nishant Rawat

Shiba Inu (SHIB): What Do You Need To Know About This Meme Coin Touted As "Dogecoin Killer"?

Updated: May 19

Shiba Inu(SHIB) is a meme coin that was created in August 2020 as a rival to a very popular meme coin called Dogecoin.

Shiba Inu Coin
Shiba Inu Coin

The alleged creator of Shiba Inu is somebody named Ryoshi. SHIB is named after the Japanese canine breed called Shiba Inu. From its launch in August 2020, Shiba Inu is touted and claimed to be the "Dogecoin Killer". The mascot of this meme coin is predicated on the Shiba pup and appears very similar to the Dogecoin.


Differences Between Dogecoin And Shiba Inu


Shiba Inu tokens are powered by Ethereum whereas on the other hand Dogecoin is developed by using the same principle as Bitcoin. Shiba Inu are ERC-20 tokens.


Currently, Shiba Inu is in news mainly because of the two causes. Recently, Elon Musk, Tesla Founder who is regularly tweeting about Dogecoin tweeted that he wish to personal a Shibu pup which created a stir in the crypto market and the price of SHIB rose by almost 300%.


Recently Vitalik Buterin, one of the co-founders of Ethereum donated 50 trillion Shiba Inu coins to India Covid Fund which is run by crypto entrepreneur Sandeep Nailwal which brought down the value of Shiba Inu by almost 40%.


How Can You Buy Shiba Inu In India?


In India, as of today, you can buy the Shiba Inu coin at Wazirx. It was listed by Wazirx incorrectly at INR 3 on 13th May 2021 and later the company clarified that a misconfiguration precipitated the itemizing at a better worth. After it was found, the costs crashed to 0.0015 INR ranges.


The other platforms resembling Uniswap and the net model of CoinDCX have listed Shiba Inu tokens additionally. Uniswap allows users to shop for and promote cryptocurrencies for Ethereum and other Ethereum based tokens. However, it's not possible to do this trade in INR but the users can do trade in USDT or BUSD.


At the time of writing, Shiba Inu is traded within the range of 0.001352 to 0.001419 INR on the Wazirx, Binance, and CoinDCX crypto exchange.


We hope that this post has provided you with some interesting and useful information. Thank you so much for reading this post, please feel free to leave your feedback.


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