Is investing in Shiba Inu safe?
Shiba Inu is by no means a sure or safe investment; however, it proved that it can surprise investors with astonishing returns with its 2,500\% run this May. Investing in Shiba is extremely risky, but with enough luck and liquidity, it could skyrocket again.
Is Shib safe?
The SHIB token is an ERC-20-based token that has been built on the Ethereum blockchain and uses the network’s smart contract technology. SHIB chose Ethereum as the platform to run its smart contracts because it is a secure and established blockchain that uses a proof-of-work (PoW) consensus mechanism.
How much does a Shiba Inu token cost?
Unlike coins like Bitcoin that is currently retailing at just above $47,000, Shiba tokens are at the time of writing this article selling at $0.00001563. You can only buy a marginal portion of Bitcoin at $50 but can get just about 3.2 million tokens of SHIB with the same amount.
What happened to Shiba Inu’s price rally?
The crypto coin prices rallied. From average daily trading volumes below $1 Million in April, $13.5 Billion worth of Shiba Inu tokens changed hands on 10th May when the coin set its current ATH of $0.0000388. But as the crypto market hype died down towards the end of May, so did Shiba Inu’s rally.
What is Shiba Inu (Shib)?
Nicknamed the “Dogecoin Killer,” Shiba Inu caught the crypto community’s eye when Elon Musk tweeted about it in May 2021. In the days that followed, FOMO reigned supreme as every speculative investor rushed to grab a piece of the meme coin. Today, however, Shiba Inu prices are wavy and undecided on whether to go up or further down.
What is Shiba coin (Shib)?
Shiba Coin is an ERC-20 token created in 2020 with the sole purpose of offering competition to Dogecoin as the ultimate meme currency. It is modeled off the Dogecoin cryptocurrency and was developed by an anonymous individual who goes by the pseudonym “Ryoshi.”