Buy Shiba (SHIB) - how to invest in Shiba in Somalia
          

There are many comic digital currencies out there today. Most of them are based on the conceptual game around Dogecoin or Elon Musk. The paradox of "meme-coins" illustrates the very essence of market relations - the value of any asset or liability is exactly the amount for which they are willing to buy and sell. Today we present to your attention Shiba Inu - a new and unusual digital currency.

SHIBA cryptocurrency review
SHIBA cryptocurrency review

Shiba Inu - what is it? History of creation

So, the Shiba Inu digital currency is a token of the ecosystem of the same name. After the launch of the project, the nickname "dogecoin killer" stuck to him. In the first few weeks after the listing, SHIB gained 27,000%. The value of the asset still has not reached the 1 cent mark, but interest in it has not subsided. The founders of the project have officially confirmed that the Shiba Inu cryptocurrency will be the first trading instrument of the ShibaSwap decentralized cryptocurrency exchange.

The project appeared in 2020. The creators were a team of developers who preferred to remain anonymous. The ecosystem founder publishes all the important information about the project on social networks and forums under the pseudonym RYOSHI. He himself says that he is an ordinary trader. RYOSHI has created an ecosystem that will be managed by the most common users. The developers have relinquished privileges. They did not reserve coins for themselves, but bought them on general terms.

To maintain compliance with market trends, the project marketers used the image of the Shiba Inu dog as a logo.

50% of the total emission is blocked on the Uniswap crypto exchange. This is to pay rewards to liquidity providers in DeFi pools. On their own initiative, the authors transferred 500 trillion SHIB to Vitalik Buterin, the famous developer who created the Ethereum network. Instead of burning the coins, he donated some to charities. SHIB sank, but it attracted the attention of many investors. It began to grow gradually, and then there was a sharp jump.

Shiba has already made some investors millionaires. So, two siblings - James and Tommy from New York, who lost their business due to the pandemic, invested their savings in Shiba Inu. The currency shot out, making James and Tommy millionaires.

The opinions of experts on the potential of the cryptocurrency were divided. Someone is sure that the quotes will never cross the $ 1 mark, but there are also optimists who consider the coin a new competitor for ETH and BTC. Time will tell which of them was right, but now we can assess the prospects of Shiba Inu through the prism of facts. The real hype around digital currency began after listing on Binance. Before the appearance of the coin on this site, it was possible to open a business without capital. Few took the next meme token seriously.

Shiba Inu is a  coin (SHIB) meme-based cryptocurrency named after a dog breed
Shiba Inu is a coin (SHIB) meme-based cryptocurrency named after a dog breed

Shiba Inu и NFTs

The Shiba Inu ecosystem is also being drawn into the NFT space. The abbreviation NFT (non-fungible token) means “non-fungible token”. A distinctive feature of most tokens is the principle of fungibility: 1 Bitcoin can be easily replaced by 1 Bitcoin belonging to another user. Whereas each NFT is unique and is produced in a single copy. All information about the author of the token, the buyer and all transactions with him is stored in the blockchain. In other words, NFT is a digital certificate that is attached to a unique object.

The technical component of the coin and its ecosystem

The authors formed a system based on three tokens SHIB, LEASH and BONE, then the ShibaSwap exchange was launched:

  • Shiba Inu is an ERC-20 token based on the Ethereum blockchain.
  • ShibaSwap - Represents a peer-to-peer decentralized exchange. On the portal, you can trade not only the token, other digital coins are also presented here. In addition, the exchange allows visitors to provide liquidity and stake tokens, thereby earning a percentage of the available assets in the ecosystem.
  • BONE - designed to work as a token aimed at managing the platform.
  • LEASH - it was originally a rebase token that has the functionality of an elastic token.
SHIB is a prospective asset, whose price is growing
SHIB is a prospective asset, whose price is growing

What affects the price of Shiba Inu?

To predict the movement of quotes, you need to proceed from the general market sentiment. If all digital currencies rise in price, then the price of the Shiba Inu token will go up. This is an obvious pattern. However, the dynamics of the currency is also highly dependent on the community and the attraction of institutional investors.

As for the global correction, it is extremely difficult to accurately predict its onset. It is necessary that large investors continue to keep coins in their wallets, delaying the depreciation. The number of addresses is actively growing, so while investments are safe.

However, this characteristic is applicable to almost any blockchain project. Many analytical services have published very optimistic forecasts. Experts are confident that the value of a digital coin will increase significantly in 2022.

Each investor must independently decide for himself whether he trusts this forecast. The main growth drivers are speculative factors.

Cryptocurrency rises in price thanks to:

  • Hyipu.
  • Community growth.
  • Ecosystem development.
  • Launching a platform with NFT tokens.
IS  Shiba Inu a good  investment?
IS Shiba Inu a good investment?

What are the advantages of Shiba Inu

Consider the benefits of Shiba Inu:

  • based on the Ethereum blockchain;
  • an ambitious goal;
  • development of its own blockchain is underway;
  • supported by the community;
  • listing on the largest exchanges;
  • the existence of the ShibaSwap exchange;
  • price jumps when mentioned in the media and social networks;
  • support for NFT tokens.

Where to Buy Shiba in Somalia?

Buy Shiba in Somalia is not that difficult. It can be purchased from the Uniswap decentralized marketplace. Dozens of other exchanges were also rushing to add it to their list due to its immense popularity. Among them:

• Binance;

• Okex;

• Huobi;

• Gate.io;

• KuCoin other.

If you are a beginner, it will be very easy for you to buy Shiba Inu on the best marketplace. Trading platforms have a high degree of reliability, simplicity and intuitive interface. All you need to do:

  • Register now.
  • Verify the identity of the user.
  • Open an account.
  • Replenish the deposit.
  • Buy SHIB.
How to invest in Shiba?
How to invest in Shiba?

How to invest in Shiba in Somalia?

So, we have already said that there are two options for how you can invest in Shiba Inu in Somalia. First, you can buy currency on the exchange. This trade obliges you to own the asset. This is considered a long-term investment as you expect the price to rise significantly in order to sell the coins.

Alternatively, one can trade a Contract for Difference (CFD) on a specific currency and speculate on the Shiba price difference.

A CFD is a financial instrument that is a contract, usually between a broker and an investor, where one party agrees to pay the other a difference in the value of a security, usually called the buy / sell spread.

You can hold a long position (assuming that the price of Shiba Inu will rise) or a short position (assuming that the price of the asset will fall). This is considered a short-term investment as CFDs are usually used for short time frames.

The trading platform offers you:

  • Leverage - allows you to increase your effective capital. The maximum leverage is 2: 1. This leverage allows you to double your profits with the correct forecast. However, leverage not only multiplies profits, but also proportionally increases losses.
  • Stop Loss To avoid excessive losses, it is necessary to apply stop losses. These orders are automatically triggered and close the position when a certain price is reached.
  • Take Profit This type of order automatically closes a position upon reaching a specific profit, the size of which is determined before executing a deal.
Shiba Inu (SHIB)  is one of most popular digital assets
Shiba Inu (SHIB) is one of most popular digital assets

Advantages of trading platforms

Benefits of using modern platforms:

  • no link to an asset - it is stored on the trading account;
  • high liquidity due to trading in a derivative product without buying the underlying asset;
  • trading on margin - the broker invests only part of the funds;
  • portfolio hedging with compensation for losses through capital gains;
  • no commissions and low transaction costs;
  • CFD trading using a trading platform without reference to a specific location;
  • mobile applications.

Should traders invest in Shiba in Somalia?

The potential of SHIB cannot be denied. This cryptocurrency has excellent prospects. The coin is capable of becoming a real Dogecoin killer. The amplitude of the growth of quotations at Shiba Inu is much higher. Cryptocurrency rises in price much faster. However, an upward rally based on hype alone cannot be called a solid foundation. One tweet by Elon Musk can ruin the project. Developers need to gain a foothold by regularly fulfilling the points of the roadmap. The ecosystem must bring real benefits and solve urgent problems.

How to Buy Shiba Inu in Somalia right now?

It is highly likely that Shiba Inu's popularity is a long-term trend. It remains only to determine how much the token will cost in the end. The pump cycles are likely to be repeated, which will be replaced by deep correction.

When properly organized, CFD trading can be extremely profitable. Your trades will be executed very quickly and will allow you to bet not only on the growth, but also on the decline in the Shiba rate. In addition, anyone can open a free demo account that does not require an initial investment. It allows novice traders to practice and get comfortable in the market.

Try to make your first profitable trade today!

GENERAL RISK WARNING:
The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose