Everyone is crazy about how to invest in Shiba Inu and become a millionaire soon. But, is that possible? Well, we are here to help you. This article will guide you through the price history and Shiba Inu coin forecast, platforms from where you can buy Shiba Inu coins, and lastly, how you can become a millionaire by investing in Shiba Inu coins.
Shiba Inu is one of the most trending virtual currencies and it’s growing at a tremendous pace. Investing in Shiba Inu to become a millionaire is one of the craziest ways to become a millionaire that we have ever come across. Let’s check it out.
What Is Shiba Inu And Where To Buy Shiba Inu Coins?
Shibu Inu coin got much famous in the mid-year of 2020. There was a craze for this coin. But what is Shibu Inu? Basically, Shiba Inu is a cryptocurrency with the face of a Shiba Inu dog on it. Doesn’t it sound similar to Dogecoin? Yet, both are different. Dogecoin was launched in 2013, whereas Shiba Inu entered the market in August 2020. Ryoshi created the Shiba Inu coin but is still unknown. But, Ryoshi claimed certain statements that can let us know more about the founder. According to a blog post, he writes, “I have said from the beginning, I am a nobody, I am not important. The efforts to unmask my “identity” even if successful would be underwhelming. I am just some guy of no consequence tapping at a keyboard and I am replaceable. I am Ryoshi.”
It is strange that both the founders of Bitcoin and Shiba are keeping their identities a secret. Shiba Inu coin works on the Ethereum blockchain. Now the question arises, where to buy Shiba Inu coins? Well, there are many exchanges and wallets that allow you to trade Shiba. For eg, eToro, Binance, Coinbase, Gate.io, etc. Just like other altcoins, there are also many options where you can buy Shiba Inu coins through debit/credit card or deposit some money in your wallet and you can have Shiba Inu coins in your wallet. And through proper Shiba Inu coin forecast, if you see the market soaring high, sell and make a profit.
Price History Of Shiba Inu?
Since the coin got launched in August 2020, there hasn’t been much increase in the stock. When the coin got listed, the price of the Shiba Inu coin was $0.00000000051 and the volume at that time was $193097.50. This price was stable for some months until May. In May 2021, the price of the Shiba Inu coin just surged up from $0.00000151 to $0.00003503. Because Ryoshi, who created the Shiba Inu coin gifted Ethereum Founder Vitalik Buterlin half of the coins. Since both the coins work on the Ethereum blockchain, the prices of both coins rose. Soon after, Buterlin burned half of the coins, and the rest were donated. Thus, the price of the coin dropped down. Again, there are many ups and downs noticed after that. From mid-May to October 2021, the prices were wavering.
In October 2021, the prices again touched heights. As usual, the reason was Tesla CEO, Elon Musk. Elon Musk tweeted about naming his Shiba Inu dog Floki Frunkpuppy. Thus, this caused the market to surge by 50% and the price was $0.00008. As history repeats itself, the same thing happened again. The Elon Musk tweet was just for a fraction of a minute. After a month, again the Shiba Inu market crashed down and the price fell to $0.00004937. The 52-days low was recorded as $0.00000001 and the high was $0.00008845. After that, the market saw many ups and downs. Coming to the present date, the current price of Shiba Inu as of February 21, 2022, was $0.00002742.
Shiba Inu Coin Forecast
There hasn’t been much growth in the prices as this coin entered the market two years ago. In the past year, the Shiba Inu Coin has given 395,673.52% returns. The supply of Shiba Inu coins as of today is 549.1 trillion SHIB. As per the Shiba Inu coin forecast, the price of the Shiba Inu coin will see a downfall in the future. It will depend upon the price of Bitcoin. In simple words, if the price of bitcoin rises, even the price of Shiba Inu and other coins will surge high and vice versa. Currently, there is a lot of tension created between Russia and Ukraine. This has affected the prices of stocks and commodities all around the world. Unless both the countries don’t come to a peaceful solution the prices will see a downfall.
Currently, the price of a Shiba Inu coin is $0.00002742. As compared to the past few months, the prices are falling severely. It is better to buy the stocks now because once the market sees a recovery buying them will be a tough deal. Another option is that you can still wait for a few days until the market drops more down, you will get a cheaper rate. And keep it as a long-term investment. As per the Shiba Inu coin forecast, in some weeks, the price might be around $0.000278 approx. By, the year-end, the price might be around $0.000340-$0.000600.
What Are The Cost You Need To Incur?
Basically, there are many costs involved in the Shiba Inu coin. Now, it depends upon you whether you mine the coins or solely just buy them from any exchange. In the mining process, you need to set up various mining rigs, graphic cards, and ASIC miners. Also, you need to have a good supply of electricity supply and space. Along with that, you should have coolers around the mining rig because the CPU gets heated up fast. You need to have 6GB VRM, good quality hardware, and graphic cards. Besides that, the standard fee incurred is 1%, if you mine through Unmineable. So, when talking about the total cost, you need to consider the price of hardware, graphic cards, electricity, and ASIC miners. Approximately, the total cost comes up to $8000 to a high of $10,000. Thus, if you go for second-hand equipment the cost might come down.
On the other hand, if you wish to buy from the exchange and not opt for mining, it will be a cheaper option for you. There are many exchanges where you can buy Shiba Inu coins. In comparison with other cryptos, the price of Shiba Inu is cheaper. Along with that, you can also stake your Shiba Inu coins. In other words, you just try to give your coins to various staking apps, and then they give you interest in it.
Is It Good To Invest In Shiba Inu Coin?
Now that you know how the market will perform in the next few weeks, let’s understand whether you should invest in the Shiba Inu coin or not. As per CoinMarketCap, the Shiba Inu coin ranks at 13th position. Well, s you know the market offers many coins to invest in but again, the choice is yours. But, Shiba Inu can turn out to be a good investment option for you. And why, because it is cheaper than other coins. Secondly is that since this coin entered the market recently i.e 2020, you’ll get it at a cheaper rate. Just compare this with Bitcoin. when Bitcoin was launched, the price was low, and if you had invested $100, today the value would be $3830590.00. Similarly, if you buy Shiba Inu coins today, the price in the future might be big. Since no one knows which coin can outperform the market expectations.
As per the Shiba Inu forecast, the market will perform low for some weeks, because of the global tension between Russia and Ukraine. Till then, you can buy the coins and keep them as a long-term investment. Although the money you want to put depends on you, you could do 10% of the investment in coins. This might be useful for you in the future. In a contrast to that, they are some risks also involved. Some involve market risks, Bitcoin/Ethereum price movements, etc. Thus, before investing watch the market and invest wisely.
Latest News Related To Shiba Inu
In the history of Shiba Inu, two major incidents changed the face of the Shiba Inu coin. The first incident was when Vitarik Buterlin burned the coins sent to him. In May 2021, the founder of Shiba Inu, Ryoshi, sent 50% of the total Shiba Inu coins to Vitarik Buterlin. But, this was not acceptable to Buterlin. Buterlin donated 10% of the coins to a charity program. And, donated approx $1 billion coins to India’s Covid 19 crisis fund. But, what happened to the rest of the 90% coins? Well, they all were burned or destroyed. In fact, people claim that if Vitarin wants, he can access the coins easily in the future. Because he actually transferred them to a false address. And, if he wants, can bring those coins back.
After destroying the coins, he said, “But for anyone making coins (or daos, or whatever else) in the future, “PLEASE DO NOT GIVE ME COINS OR POWER IN YOUR PROJECT WITHOUT MY CONSENT! I don’t *want* to be a locus of power of that kind.” The second major incident was Elon Musk’s tweet on October 2021. Actually, Tesla’s CEO had brought a Shiba Inu dog called Floki Frunkpuppy. This had surged the market to rise high by 50%. Another news was about the Shiba Inu coin getting listed on the Robinhood platform. Although this was not true, this got viral and the price rose by 300%. Recently, Robinhood announced that Shiba Inu will be listed on their platform for almost after 6 months. Thus, when it will get listed, the prices will shoot up.
How Much To Invest In Shiba Inu To Become A Millionaire?
Everyone wants to be a millionaire, but do you want to know how the Shiba Inu coins can make you a millionaire. Well, keep on reading further. In order to succeed, you will need a lot of patience. For example, if the same amount you had invested in the bank was in the form of FD, you would have waited. The same applies here. You need to be patient. For any coin or stock to outperform and succeed in the market, needs a lot of time or just one tweet from some major person. Just like the Elon Musk tweet had surged the market price of the Shiba Inu coin to rise high. Elon Musk in another tweet said that in order to be a millionaire you need 3 million Shiba Inu coins. And we believe that if the Shiba Inu community grows big and keeps supporting the coin, the prices will rise soon. Although the start was bad, the year-end is predicted to be good.
Secondly, it depends upon the price of bitcoin and the market performance. Due, to the global tension currently the prices are low, if you invest in Shiba Inu coins now, it will give you a surety that you’ll be a millionaire in the future soon. Because many investors are predicting this coin to be successful just like Bitcoin did.
Is It possible To Become A Millionaire By 40?
You might be wondering now, Can I be a millionaire by 40 if I invest in Shiba Inu? Well, this is possible but there are many outcomes of it. For eg, those who are reading this article might be of different age groups. Thus, it might take time but you can achieve this. If you’re between the age group 20-25, you can start investing now. And the rest, you’re not late to invest. You might not have much income, you if you slowly and steadily invest small amounts, surely you’ll be more than a millionaire by the age of 40. When you receive your income invest first and then spend the rest. For instance, if you have an income of $3000, you can invest $300 of it in any of the cryptos you want, some 150 in stocks, and the rest in any instrument if you want to.
In the start, you will find it useless, but remember, developing a habit, takes some time. As and then your income increases, increase the investment amount also. By, the age of 40, you’ll have enough money to enjoy your retirement. As said, Cryptocurrency is the future of finance and money.
Will Shibu Inu Make You Rich?
Now, the main question arises, Will Shiba Inu make you rich? Well, there is a possibility of this turning out to be true. Because one man has already turned out to be a millionaire through the Shiba Inu coin. Can’t believe it, right? But, this is true. In an interview with Fortune, he narrated the incident. When the coin was first released, this person read the white paper of Shiba Inu. He was just amazed by the words and decided to invest $8000 in it. Since he was from a poor background, he was a little skeptical about the future outcome. Slowly, when the market outperformed in 2021, he took the advantage of the situation and exited the market. Now, he is a millionaire by investing in Shiba Inu.
Shiba Inu coin forecast says that the price will rise in the upcoming years. This is because the Shiba Inu coin has already entered the Metaverse world. As you all know, Metaverse is the next big thing in the future. People are going to live in this virtual world and if the Shiba Inu coin has entered, chances are that the prices will also surge up. So, if you buy Shiba Inu coins now, and keep them as a long-term investment, you’ll definitely earn good returns on them.
We hope you enjoyed this article about how much to invest in Shiba Inu. In this article, we discuss all of the things that people need to consider when deciding how much to invest in a Shiba Inu coin. Before buying a Shiba Inu coin, you should consider all of their options. Although there are many different options available, it is important to do your research and invest wisely.