What is Shiba Coin and How to Buy SHIB?

Interest in the cryptocurrency markets continues to a great extent. Binance has added a new one to its cryptocurrencies. Announcing that it will list Shiba Inu (SHIB), one of the most popular cryptocurrencies recently, and Binance added that SHIB will be in the field of innovation. Shiba Coin will be traded on Binance with pairs of SHIB / BUSD and SHIB / USDT.


Binance defined SHIBA COIN in its website as:

SHIBA INU (SHIB) is an experiment in decentralized community building and another meme coin similar to Dogecoin. SHIB is the native token of SHIBA INU and will be the first token to be listed and used as an incentive for using ShibaSwap, a decentralized exchange.

Shiba Coin (SHIB) draws attention with its similar structure to Dogecoin. Shiba Coin (SHIB), a meme cryptocurrency just like DOGE, is a decentralized local token and it is the first one to be listed. It is also used as an incentive to use ShibaSwap.

“Dogecoin Killer”

Just like DOGE, SHIB gained a lot of value with the speeches of Elon Musk in the past days. It experienced a rapid increase in value just like Dogecoin after Elon Musk’s tweets, especially on May 8, with the increase in value experienced by Elon Musk after his shares.

SHIB’s symbol is the Japanese dog breed “Shiba Inu” just like DOGE and adopts it as its name. It is “experimental” according to the project description on its official website. For this reason, it is not listed on all exchanges yet, and its investors are recommended to consider this situation.
Introduced as the “Dogecoin killer” on the official website, the total supply of Shiba Inu (SHIB) is limited to 1 quintillion and currently, approximately 395 million SHIBs are in circulation. According to the community’s statement, “SHIB has a high chance of surpassing Dogecoin in a short time”. However, this is of course a one-sided explanation.


Binance announced that SHIB in the Innovation Zone and trading pairs SHIB / USDT and SHIB / BUSD will be used. SHIB trade started yesterday at 02.00 pm. Investors can now start investing to buy SHIB.

What is Shiba Price and Where To Buy It?

It is traded on SHIB, Uniswap decentralized exchange, as well as major exchanges such as Binance, Coinbase, Huobi, and Kucoin. Other exchanges are Gate.io, Poloniex, and OKEx. The Shiba Inu token, with a supply of close to 395 billion, has gained 18 percent in the last 24 hours and is currently trading at $0.00002305 as of 06.10.2021.

SEE ALSO: No longer a joke: Dogecoin surpasses $52 billion

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Caroline Tetra

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