Introduction To Buying Shiba Inu (SHIB) on Coinbase

You have probably opened this page because you are looking for how to buy Shiba Inu (SHIB) on Coinbase. In this article, DecentraDecoded Shiba Inu Coinbase page is intended to give you a step-by-step approach to buying Shiba Inu on Coinbase quickly and without hassles.

Many elements, including location and protocol, are involved when you want to buy Shiba Inu or other cryptocurrencies. It is currently available on the Coinbase exchange.

Click this link to read our full Coinbase review, including how to sign up today.

Buying Shiba Inu on Coinbase is quick and easy. Shiba Inu trading on the crypto exchange started at midnight on September 9, 2021. ET., according to an announcement from the exchange on Wednesday, September 8, 2021. This was a much-needed announcement after the exchange postponed the launch of SHIB in June 2021.

What is Shiba Inu Coin?

How To Buy Shiba Inu Coin (SHIB) on Coinbase

An anonymous founder named Ryoshi created the Shiba Inu cryptocurrency token. Like Dogecoin, it is from the Doge meme, which features a Shiba Inu dog.

The Shiba Inu white paper, also known as a “woofpaper,” describes it as a community-based cryptocurrency project, which means that the decentralized Shiba Inu community, known as the “ShibArmy,” oversees the cryptocurrency and its development.

This community isn’t particularly unique in cryptocurrency; other cryptocurrencies are also managed by decentralized communities, so even though Shiba Inu’s white paper frames it as a revolutionary idea, it’s just like what other projects have been doing.

While the crypto community initially regarded Shiba Inu as a Dogecoin alternative, it has a significant distinction. Shiba Inu can execute smart contracts on the Ethereum network. It can also interface with decentralized apps using smart contracts. Dogecoin’s capabilities are far more constrained because it needs this capacity.

Who Created Shib Inu?

Shiba Inu launched in August 2020 with a total supply of one quadrillion tokens. The first significant event in Shiba Inu’s history occurred in May 2021 when Ryoshi, Shiba Inu’s creator, gave Vitalik Buterin, a co-founder of Ethereum, half of the company’s supply. Most people thought this was a marketing gimmick to capitalize on the popularity of another cryptocurrency.

In a cryptic statement, Ryoshi said, “There is no greatness without a vulnerable point.” Ultimately, Buterin burned (destroyed) 90% of the tokens and donated 10% of them. As a result, 549 trillion Shiba Inu tokens are in circulation. In July 2021, Shiba Inu introduced ShibaSwap, a decentralized exchange of its own. In November, it collaborated with David Folk, a former Activision vice president of technology, to create a Bitcoin game project.

At the beginning of 2021, Shiba Inu’s value was $0.000000000119. That year, it peaked at $0.00008845. It’s difficult to compare such small numbers, but an easier way to look at it is that the price had increased by more than 74,000,000% in October 2021. After that, it saw a significant decline, dropping the value by more than 75%.

Will Shiba Inu Rise This Week? – The Rising Demand for Shiba Inu Cryptocurrency

How To Buy Shiba Inu Coin (SHIB) on Coinbase

Sentiments found in a recent investigation that there was an increase in demand for SHIB. This analysis was made clear by the dramatic rise in its network expansion. Initially, growth in the statistics indicated that more new accounts transferred the token within a specified period.

Furthermore, the memecoin’s active addresses may have a similar pattern. This pattern could mean a high in the market is about to occur or the reverse. There’s a chance that the token’s price will rise as long as demand for it keeps growing.

Santrends’ analysis indicates that the recent focus on Shiba Inu (SHIB) can provide new life to a previously unknown token.

What is Shiba Inu’s All-Time-High?

On May 10, 2021, Shiba Inu (SHIB) reached its highest point of $0.00003791, having begun trading at $0.000000000056. The Shiba currency has since sharply declined and is presently trading at about $0.000006453.

In August 2020, Shiba Inu showed up as an ERC-20 token. SHIB hit its all-time high (ATH) of $0.00008845 on October 2021.

How To Buy Shiba Inu Coin (SHIB) on Coinbase

Shiba Inu Price Prediction

The price of a Shiba Inu at the time of this writing is $0.000009857. Shiba Inu price forecast indicates that by the end of 2023, the price will average $0.00001038. The price prediction for 2025 is $0.00005456.

What Does Shiba Inu Listing on Coinbase Mean for the Meme?

In about nine months, when it went live on the crypto exchange on January 30, 2021, Shiba Inu’s price increased by 799900%. Dogecoin is now behind Shiba Inu in market capitalization.

The Shiba Inu community applauded the decision, which caused the cryptocurrency to surge to $0.000008299, up more than 20% that same day.

According to CoinMarketCap data, the latest review shows that trading volume in SHIB/USD was $5.8 billion. This data implies that Coinbase listing Shiba Inu has added validity to the project.

How to Buy Shiba Inu on Coinbase in Six Easy Steps

Open a Coinbase Account

  • Sign up with Coinbase by downloading the Coinbase app or signing up online. 
  • To conduct business, you will want a legitimate ID and might need proof of address, so ensure you have those handy. Confirming your ID could take longer than a few minutes, depending on your residence.
  • Coinbase controls how long the confirmation will take, and the strict checks are for security and marketing purposes. Confirmation could last 24 hours or past 7 days, depending on the validity of any information provided. 
  • Please note that any feedback about ID verification and confirmation from Coinbase will be directed to customers because they are solely responsible for content in their IDs. 

Add a Payment Method and Fund Your Account

  • Select a payment method by tapping on the box containing it. You have three options: wire transfers, debit cards, or bank accounts.
  • Deposit the fiat currency you intend to use to purchase SHIB.
  • You can also fund your account using Coinbase Gift Cards.

Begin a Trade

  • Go to your Coinbase account and click Buy & Sell. This is an option on Coinbase if you want to buy or sell a particular digital asset.
  • Select the (+) Buy option located on the Home tab of the Coinbase mobile app.
  • Coinbase allows customers to convert crypto to SHIB if they already have digital assets in their accounts. 

Choose Shiba Inu from the List of Assets Available on Coinbase

  • Click the Buy panel on Coinbase.com, look for Shiba Inu, and choose it.
  • Enter “Shiba Inu” into the search field of the Coinbase mobile app to find Shiba Inu.
  • Tap Shiba Inu to bring up the purchase screen when you see it in the results.

Put In the Amount You Wish to Purchase

  • Enter the amount you wish to spend in your native currency using the number pad. The app will immediately convert that to a Shiba Inu value.
  • To change the number to the corresponding amount of Shiba Inu, tap the arrow buttons to the right of the amount you wish to spend.

Finalize your Shiba Inu Purchase

  • Press “Preview buy” when satisfied. You’ll see the specifics of your purchase displayed.
  • After ensuring everything is in order, click “Buy now” to complete the transaction.
  • Go to the confirmation screen after processing the order.
  • You have successfully purchased Shiba Inu using Coinbase.

How to Buy Shiba Inu Billionaire – Is It Available on Coinbase?

Unlike some popular cryptocurrencies, not all coins are easy to find on crypto exchanges. One such coin is the Shiba Inu Billionaire. You cannot buy Shiba Inu Billionaire on Coinbase’s vast platform, but there are some ways to get Shiba Inu Billionaire. For instance, you can buy it on Binance. However, stay tuned for updates with Coinbase News to know when Coinbase crypto exchange lists the coin for trading.

Conclusion

In 2021, the crypto known as Shiba Inu had no purpose or value. By the end of 2023, it was being used as a payment mechanism and traded in significant volumes to profit from minute price changes.

Shiba Inu is constantly being developed and enhanced by a committed community to have practical applications; thus, there’s a good chance they’ll continue to be among the most popular crypto on the market. However, this is not an investment advice.

Coinbase is not responsible for the price fixtures regarding Shiba Inu, so the recommendation to buy or sell is not a direct suggestion. Hence, ensure you do your own research, invest what you can afford to lose, and stay SAFU.