Last Updated on March 9, 2023 by Bitfinsider
Shiba Inu (SHIB), a cryptocurrency that was introduced in August 2020 as a direct rival to Dogecoin (DOGE), has gained popularity since its debut, and now cryptocurrency investors and traders can purchase over 1 million Shiba Inu coins for as little as $12.
Shiba Inu is presently being traded at a price of $0.00001092, meaning that $1 would buy you 91,575 of them. When the numbers are added up, a comparatively small investment of $12 would buy you 1,098,901 SHIB, according to the price information on CoinMarketCap retrieved on March 9.
Since August 2020, Shiba Inu has come a long way, increasing by over 1,069% to reach its all-time high (ATH) of $0.00007924 in late October 2021. Despite the fact that the price has dropped 86% since then, investors who bought SHIB before the ATH would have made a sizeable profit if they had sold it at the top.
As it stands, the price of SHIB has decreased by 1.58% today, 13.98% last week, and 13.32% over the last 30 days. However, the digital asset has increased by 35.74% since the beginning of the year, supported by the general confidence on the cryptocurrency market.
Shiba Inu’s market capitalization, which stood at a staggering $6.06 billion at the time of publishing, makes it the 15th-largest digital asset on the market today, according to the most recent data from CoinMarketCap.
Shiba Inu’s figures may appear insignificant, but SHIB has the potential to rise in value and even make a careful investor a millionaire in the future, although it will be a while before it reaches the likes of Bitcoin (BTC) and Ethereum (ETH) in terms of value per unit.
To illustrate this gradual rise in price over time, in September 2021, 1 million Shiba Inu coins could be bought for only $7. In the end, it all comes down to carefully monitoring the market circumstances, the amount of money one is prepared to invest in it, and the value of the token at the time of sale.
ShibaSwap is the only authorized decentralized exchange for the Shiba Inu and Shibarium ecosystem, according to ShibaSwap’s lead developer Shytoshi Kusama, who recently informed the public via Twitter bio. In the meantime, the SHIB team has been working diligently on developing the eagerly anticipated Layer 2 network known as Shibarium.
How to buy or trade SHIB on ProEX
You can buy or trade SHIB on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.
On ProEX, you can trade SHIB as a spot pair (SHIB/USDT) in 3 simple steps:
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade SHIB/USDT at ProEX Spot
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.