Crypto Analyzer

The Rise of Shiba Inu: Will It Reach $1 and How to Buy

Shiba Inu coin, often dubbed as the “Dogecoin killer”, has been making waves in the cryptocurrency market with its recent surge of 14% in just 24 hours. Its market cap has surpassed $3.5 billion since its launch, indicating a significant increase in interest and investment.

As of June 3, 2021, the value of Shiba Inu has fluctuated between $0.00000869 and $0.00001045. With a market cap of $3.94 billion, Shiba Inu is positioning itself as a strong competitor to Dogecoin, which currently has a market cap of $56.98 billion.

Will it reach $1?

Many analysts and experts are optimistic about Shiba Inu reaching the $1 mark in the future, although the exact timing remains uncertain. The development of a new decentralized exchange (DEX) by Shiba Inu could potentially boost its value, especially if it gains traction similar to other leading decentralized finance platforms like Uniswap and Sushiswap.

Is it the right time to buy Shiba Inu?

Given the current stability in price and the potential for future growth, now could be a good time to consider investing in Shiba Inu. With the price per coin relatively low, there is an opportunity for investors to buy in before potential further increases.

How to Buy Shiba Inu

For those looking to purchase Shiba Inu, there are several platforms available, including:

1. WazirX

WazirX is a popular cryptocurrency exchange that allows users to buy, sell, and trade various cryptocurrencies, including Shiba Inu. To get started, download the WazirX app, sign up for an account, complete the eKYC process, enable two-factor authentication, and link your bank account for deposits and withdrawals. Once set up, you can buy Shiba Inu directly through the app using different payment methods.

2. CoinSwitch

CoinSwitch is another reputable cryptocurrency exchange in India where users can purchase and trade Shiba Inu. After installing the app, sign up using your phone number, complete the KYC process, and link your bank account. CoinSwitch allows users to buy Shiba Inu using Indian currency, providing a straightforward way to invest in this growing cryptocurrency.

Whether Shiba Inu will ultimately reach $1 remains to be seen, but its recent momentum and potential for growth make it an intriguing option for investors looking to diversify their cryptocurrency portfolios.