What is Shiba Inu Token | Is It Safe? (2021)

June 9, 2021

What is Shiba Inu Coin?

What is Shiba Inu Coin?

Nicknamed the Dogecoin killer, Shiba Inu (SHIB) is the latest in an array of meme coins that has rapidly grown into one of the largest decentralized communities in the ecosystem. When Shiba was created - they gave out 50% of the tokens as a ‘Fair Launch’ which got distributed over time and they sent the other 50% to Vitalik Buterin as a gesture of good faith. 

Why is the price of Shiba going up?

Shiba Inu has permeated quickly across the crypto culture and has rapidly become one of the most popular memes much like Dogecoin. This memetic factor has caused many investors to start speculating that Shiba will essentially become the new Dogecoin, which could result in more upside for investors in meme coins. 

Another important factor to note is that unlike Dogecoin, the community behind Shiba is actively working on releasing their first product Shibaswap. This will be a decentralized exchange that will service the DeFi community and can potentially provide the coin with some fundamental value. 

Shibaswap is currently undergoing audits and security test to make sure the product is safe to release.

How can I buy Shiba Inu tokens?

Thanks to the growing popularity of SHIB token, many exchanges now offer a way to easily buy, sell and store Shiba Inu.

The best place to buy Shiba Inu in Australia is CoinSpot. For investors elsewhere, we would recommend Binance.