As the meme coin hype continues, more and more people are finding out about Shiba Inu and crypto in general. As a result, there are many random questions surrounding Shiba Inu that many newcomers to crypto might not know the answers to. Let’s go over some of the most popular questions on Google that people have about Shiba Inu.
One of the most popular questions is whether or not $SHIB is real. Shiba Inu is real in the sense that it’s a ERC20 token that can be bought, sold and traded. It’s just as real as Bitcoin, Ethereum or any other cryptocurrency.
Another common question when it comes to cryptocurrencies is “what is it used for.” In the case of Shiba Inu, it’s a meme-coin that’s mainly used to speculate with.
However, there have been rumors circulating about AMC integrating Shiba Inu to be used as a payment method for their concession stands as early as next year.
The third most popular question is about Shiba Inu’s price, obviously.
There’s nothing technical stopping Shiba Inu from reaching $1. Other than the fact that if $SHIB was worth $1 the market cap would be at $600 trillion. That would be about 300 times the current market cap of Bitcoin which is $1.2 trillion.
$SHIB is currently trading at $0.00005, the better question is will Shiba Inu hit $0.0001 before the end of the year? With a price of $0.0001 the total market cap of the crypto would be around $60 billion, placing it as the top 6th biggest crypto. That seems like a more achievable goal in the short term.
Depending on who you ask, you will get a different answer about investing in Shiba Inu. Just like with any crypto, there’s a high risk and volatility associated with $SHIB.
If you’re looking to take profit in the short term and are not afraid of high price fluctuations, then Shiba Inu might be a good option. On the other hand, if you’re looking for a more conservative play, purchasing Ethereum or Binance Coin might be the safer play.
Keep in mind this isn’t trading or investment advice, always do your own research before trading any crypto.
Shiba Inu is an ERC-20 token running on the Ethereum blockchain. It’s not a coin in the sense that it has it’s own blockchain.
SHIB was launched on August 2020
Yes! You can sell Shiba Inu for USD on any exchange that supports it. The list includes: Coinbase, Crypto.com, Binance, and much more.
The latest news about Kraken listing Shiba Inu is that the exchange is still in the process of reviewing the listing.
There haven’t been any updates about the listing since last week and the SHIB community is waiting in anticipation.
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Originally published on The VR Soldier
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