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Shiba Inu Coin
The Shiba Inu coin had a mammoth year in 2021. Its exponential growth in price created humongous wealth for its investors, and despite being ranked #13 on its platform, CoinMarketCap noted SHIB coin as the most searched cryptocurrency throughout the year Buy Shiba Inu Coin In INR - outperforming Bitcoin by 43,000,000 views.
The is a 'meme coin' - a cryptocurrency associated with a popular viral internet meme. Popular in cryptocurrency in India and worldwide, its growth journey has been exponential since its August 2020 inception. While a considerable amount of 'meme coins' have fallen by the wayside upon their creation, SHIB has demonstrated tremendous staying power, and is even being considered the 'Doge Coin Killer' - the original meme coin.
Shiba Inu is still in a growth stage, holding similarities in its own crypto journey with the India market. As the cryptocurrency in India market continues to grow, coins like SHIB coin will no doubt benefit from continued investment and a growing optimism towards the industry from the Indian market, with its price and valuation being a benefactor of this too. Combining the potential of SHIB and India together, three words come to mind - watch this space.
Shiba Inu Coin in India
Cryptocurrency in India has been the subject of wide discussion in 2022, with the introduction of a crypto tax at a rate of 30% for all holders. This has had a detrimental effect on holdings across the country, with some cryptocurrency trading app and exchanges reporting that their total trading volumes for the region are down.
With that said, there are still many options available to traders in the country when looking at where to buy crypto, and indeed what to buy.
Which crypto to buy today in India
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Shiba Inu (SHIB)
- Polkadot (DOT)
Bitcoin is the crypto king. First established in 2008, it has been on a wild ride since falling to just $0.01 in value after a huge market crash in 2011. Currently trading at approximately $30k, if there is ever a cryptocurrency that will make it into the mainstream, it’s Bitcoin.
Chances are, if you know anything about cryptocurrencies you will have heard of Ethereum. ETH is a highly established token, initially released in July 2015, and growing in popularity across India. The crypto has been on a tremendous growth journey since its inception, growing 33,500% since 2016 to date, and most importantly outperforming Bitcoin in 2021 - gaining 418% in comparison to Bitcoin’s 66%.
While a competitor of ETH, SOL is still a highly appealing cryptocurrency to trade with in Indonesia in 2022. Talking numbers, Solana entered the crypto market at $1.5 in 2021 - it entered 2022 at $258. A contributing factor to Solana’s recent successes is its incredibly fast transaction speeds, which are a thumbs up to the infrastructure on which the crypto is built.
Shiba Inu (SHIB)
The SHIB coin is a 'meme coin' - a cryptocurrency associated with a popular viral internet meme. Popular in cryptocurrency in India and worldwide, its growth journey has been exponential since its August 2020 inception. While a considerable amount of 'meme coins' have fallen by the wayside upon their creation, SHIB coin has demonstrated tremendous staying power, and is even being considered the 'Doge Coin Killer' - the original meme coin.
While 2022 has been a slower start for some cryptocurrencies than expected, DOT has come roaring out of the blocks. Nudging its way into the top 10 cryptocurrencies list, Polkadot is backed by tremendous blockchain technology, and as a relative newcomer to the crypto party - being established only in 2020 - it has shown signs of being a real trend-setter in the crypto space.
Best app for cryptocurrency trading in India
While India is now subject to a crypto tax, that doesn’t mean it is limited in trading options. Below are some of the best cryptocurrency trading app for crypto enthusiasts in India:
BW6.com is a worldwide digital trading platform, facilitating the exchange and management of digital assets from all corners of the globe. On BW6.com, traders can buy crypto using Indian Rupees - anything from Bitcoin, to Ethereum, to Doge Coin to the Shiba Inu coin - making it a solid option for cryptocurrency in India.
Traditionally an Indian exchange, WazirX has had to pivot recently with the introduction of the Indian crypto tax. WazirX are now heading to Dubai to open up offices in the crypto friendly global city. That said, they are very much still a cryptocurrency trading app dedicated to serving users who love cryptocurrency in India.
Binance is one of - if not the - biggest name in the crypto space. If you are looking for a cryptocurrency exchange with a huge following, this is most likely to be your first choice.
Shiba inu coin price prediction 2025 in India?
While it is always difficult to predict the crypto market, one thing is clear: dreams of SHIB reaching $1 are farfetched. With that said, some solid trading over the next couple of years would certainly see Shiba have the potential to knock a couple of decimal places off its current price and get close to the $1 mark. Currently trading close to $0.000011, it is a reasonable prediction to expect the shib token price to head closer to $0.0001 by 2025.
Rivalry between SHIB and DOGE:
The ‘rivalry’ mooted between Shiba and Doge derives from the similarities between their coins. Both SHIB and DOGE are memecoins, meaning they are part of the same crypto coin ‘family’ so to speak. Ultimately, though, SHIB and DOGE often work together, and their price movements can often be interlinked. The chances are, if a trader is a fan of SHIB, they’re more than likely to be a fan of DOGE too.
When will the Shiba Inu coin rise?
Crypto markets are currently in the middle of a bear market, and prices remain volatile with a generally downward trajectory. The current shib token price is approximately $0.000011, which is up on its 24 hour position but is over 50% down on its 90 day position. The whole market would have to turn upwards before we can expect the SHIB coin value to rise.
Best platform to buy shiba inu?
The cryptocurrency app BW6Pro allows traders to buy Inu Shiba using their debit card, credit card and bank transfer. You can also trade SHIB on the BW6 Futures platform, which is also accessible via the BW6.com desktop trading platform.
Will shiba inu coin reach $1?
While nothing can ever be ruled out, it would take an astronomical level of growth for Shiba Inu to reach the $1 mark. At its peak, the shib token price was $0.00008, which is over 8 times its current value - demonstrating how far it would have to go before hitting such heights.
Shiba inu coin vs Doge coin
Both Shiba Inu and Doge Coin are meme coins - meaning they’re a bit more humorous than other crypto tokens available. Doge Coin is more valuable per token, however you can own a lot more Shiba Inu with the same amount of fiat. Doge Coin is famously owned by Elon Musk, and his comments about the crypton tend to have an effect on its valuation. That said, however, this tends to be the same across all of the memecoins.
What are the predictions of Shiba inu?
Shiba Inu is tipped to be a core part of the future of crypto. As it has historically proved to do, it will undoubtedly follow the lead of the market, and when the markets turn bullish, so will Shiba.