Much like Dogecoin, SHIB started as a joke, and it’s billing itself as a “DOGE Killer.”
Here’s what you need to know about SHIB coin:
- Its real name is ‘Shiba Inu coin.’ But everyone calls it SHIB coin for short. The name is taken from the dog breed that is the mascot for Dogecoin.
- How much is SHIB worth? At the time of this writing, one SHIB is worth about $0.00002261 (All-time high: $0.00003359.)
- How many SHIB coins exist? Today, there are around 500 trillion coins of this meme cryptocurrency in circulation.
- Why does SHIB coin exist? Inspired by Dogecoin, people saw its 5,000% rise this year and think any other joke coin can go on a similar bull run.
- Where can I buy SHIB coin? Shiba Inu is now available on several platforms, including WeBull, Coinbase Pro, Binance, Crypto.com, Atomic Wallet, and KuCoin.
- Should I buy SHIB coin? Well, that’s entirely up to your financial situation. However, throwing your life savings or even a stack into a joke coin isn’t the smartest move.
According to Business Insider, “A number of market participants see a rotation back into memecoins/dogcoins as being inevitable,” they said.
“While one could expect capital to flow back into these names should 4Q prove to be as promising as many expect it to be, there’s no guarantee the momentum holds up in the short term.”