Recently listed on Coinbase Pro, the cryptocurrency Shiba Inu was chosen by the well-known exchange for a simple reason: the demand for this token is high. SHIB trading started from June 17 in the classic three phases provided by Coinbase Pro: post-only, limit-only and full trading. Exchanges are about couples SHIB-USD e SHIB-USDT.
In the hours following the announcement of the listing on the exchange platform that allows quick exchanges and low commissions, the price of Shiba Inu had undergone a drastic surge up to + 27%. IS' the Coinbase effect as the experts call it. so much so that in the first few days SHIB was among the best performing tokens in the top 100 ranking by market capitalization.
However, following the technical problems that led to the slip, the rises were completely absorbed and the meme token found itself with new relative lows. At the time of writing, Shiba Inu (SHIB) is down by -10,3% (an overnight slump to below $ 0,000006) while trading volumes are up about 20%. Is a bearish trend and possible new declines to be expected? We'll see.
The fact is, that SHIB has been making a lot of talk about itself in the world lately crypto. It is an asset in all respects, with its own listing and value, today present in the main exchange platforms, but it is also something more. It's a ecosystem anchored to the SHIB reference token different from those of the first or second generation that boasts a series of ambitious features in constant evolution.
How and where can you buy SHIB? What are the channels where you can buy this token or trade on the same currency with online trading?
Shiba Inu Guide 2021: what kind of token is it?
Shiba Inu's valuation literally exploded in April: on April 16 it increased by 5.400% in just under a month. It has met with considerable success also thanks to the attention to DOGE (Dogecoin): the two cryptocurrencies have in common the symbol of a dog.
Il SHIB's all-time high it dates back to May 10, the date on which it touched 0,038 thousandths of a dollar. Its valuation grew more than 2.000.000% when it was listed for trading on Binance, Capital.com and other platforms.
What kind of token is SHIB?
The Coinbase Pro platform defines it as a token which tends to be a Ethereum e Dogecoin (DOGE). With an initial supply of 1 quadrillion SHIB, the token is designed to outperform DOGE in terms of growth without even reaching $ 0,01.
Dogecoin works on its own blockchain, while Shiba Inu is built on the decentralized and secure Ethereum blockchain.
The substantial difference between Bitcoin and the Shiba Inu meme token is this: the former is designed to be scarce, while the latter is designed to be abundant.
The Shiba Inu ecosystem it includes projects such as the development of a decentralized exchange (Shibaswap) and an NFT art incubator.
In terms of current working value, this emerging crypto ranks 40th in the special ranking of CoinMarketCap.
The cryptocurrency is anchored to a real new generation technological ecosystem (Dogecoin Killer): the name suggests the ecosystem's willingness to compete with DOGE until it surpasses it by bringing new features. DOGE and SHIB have in common the image of a dog. This may suggest that Shiba Inu's goal is the usual system linked to an altcoin that aims to exploit the virality of social channels. In fact, it intends to create a token meme developer ecosystem (precisely, 3 proprietary tokens anchored to the ecosystem for as many different purposes). The ecosystem, with its peculiar characteristics, aims at launch your own DEX.
How much is the Shiba Inu project worth more or less? Beyond 3,5 billion capitalization.
Shiba Inu ecosystem: features, roadmap, tokens
The Shiba Inu ecosystem has its own white paper ('woofpaper') within which there is the Roadmap of the project (functions and services started and to be started in the future).
ShibaSwap is the decentralized exchange to be developed, an exchanger visible in preview on the platform not yet formalized that indicates test and testing phases, updates.
The other project is that of a artists incubator invited to participate by the same organization.
It aims a lot, like the others, to consolidate and grow its community, followers and there is no lack of support requests through donations in ETH, SHIB or LEASH.
What are the delivery times? 3 proprietary ecosystem tokens?
The three key tools of the platform are:
- SHIB (Shiba Inu), the main asset that plays a pivotal role within the ecosystem, issued in large, abundant numbers;
- LEASH, the second instrument already available for exchange, issued in a smaller number. Allows you to obtain rewards for liquidity providers;
- BONE, instrument not yet issued, available in the short term, associated with the sector DeFi (decentralized finance).
Regarding the main token, the initial issue followed an original process: 50% of the quantity was conveyed to the Uniswap exchanger, while the other half was sent to Vitalik Buterin. A strategy never used before, aimed at fair trade.
About 90% of the part sent to Vitalik Buterin was burned by the entrepreneur, the rest was given to charity.
How to buy SHIB with the best brokers
To invest in cryptocurrencies, there are two main channels: physical purchases through platforms of exchange and trading with online trading through broker.
It is essential to choose the best, safest, regulated (approved by bodies such as CONSOB), professional, consolidated and reliable platforms to avoid scams. The best brokers and exchanges allow you to buy SHIB and other crypto without fixed commissions, while the most prestigious exchanges offer very low fees.
The best broker ever is Capital.com (the most used due to the presence of many different assets within the list). It has no fixed costs and applies spreads, it allows you to trade SHIB exclusively through CFD (contracts for difference) or based on price changes without owning digital currency. With CFDs you can open an upward position (purchase with a view to a price increase) or downward (sale with a view to reducing the price). One of the great advantages is the possibility of not having to own wallet (storage wallets). Capital.com is a quick and easy to use platform licensed and regulated in the European Union. It grants you to opt for the demo mode, a free simulation that has no time limits.
How to buy SHIB with the best exchanges
Speaking of exchange for buying Shiba Inu, the best platforms are Binance, Huobi Global and Coinbase Pro.
With exchanges, the investor converts a certain amount of Fiat currency to obtain SHIB.
The best exchanges integrate wallets (multi-currency storage wallets equipped with numerous security systems) at no additional cost. What they ask for are commissions on conversions that vary depending on the crypto chosen and the amount traded.
During the 2021, Binance has entered Shiba Inu in its database. This exchange features real-time charts, training courses and processes with higher difficulty level like it Staking. It is a transparent platform: during the purchase it is possible to view the exchange value, the relative commissions and to convert the Fiat currencies into SHIB.
The other platform consolidated over the years is Huobi Global specialized in cryptocurrency purchases and exchanges that offers very advantageous commissions. In its list it includes the largest number of new generation cryptocurrencies.
The exchange has the function of quick purchase with selection of the preferred asset. It makes the conversion rates related to the commissions on exchanges visible and allows you to send crypto to your wallet.
Before carrying out operations, it is good to always check the SHIB chart in real time both to check the current situation and to check historical data.
Coinbase Pro is one of the largest centralized crypto exchanges in the world. It is a separate app from Coinbase: it offers unique features such as lower commissions and limit orders. You must already be registered with Coinbase to be able to download the app.
Coinbase Pro asks users to convert a certain amount of Fiat currency to obtain SHIB or other listed cryptocurrencies. Alternatively, it is possible to transfer free resources (BTC or ETH) from the Coinbase wallet to the Coinbase Pro wallet by entering SHIBA through the SHIBA-BTC or SHIBA-ETH trading pairs.
Coinbase Pro trading features three phases: post-only, limit-only and full trading.
Is it worth buying SHIB?
Recall that the component of risk in the crypto sector (therefore also for Shiba Inu) is associated with the unpredictability of the markets. The risk is there and there is no question.
It is equally important to highlight the peculiarity of the Shiba Inu ecosystem: SHIB is much more than a simple crypto meme as many others born this year can be.
What distinguishes Shiba Inu from other ecosystems is the set of features, the ShibaSwap project of decentralized exchange, the launch of two other tokens (BONE and LEASH), all projects not yet official and to be concretely started.
The intention to enter the DEX sector is particularly ambitious. Shiba Inu aims to compete with famous exchangers, giants like Uniswap or PancakeSwap.
For sure, cryptocurrency enthusiasts and investors who will be drawn to SHIB love challenges.