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- Published: July 28, 2021 14:31
New Delhi: Shiba Inu or the ‘Dogecoin killer’ has been going through a tumultuous phase, witnessing major upheaval in its price and value. On May 10, it traded at all-time high of $0.0000388, prompting market experts to predict that the crypto will hit $1 by 2021 end.
On May 19, it dropped to a low of $0.00000642. Then, it moved to $0.00001195 before plunging back to $0.00000732 days later. The wide level of fluctuation highlights the huge volatility of crypto market and has also led experts to make wobbling predictions.
Some analysts predict Shiba Inu coin to reach $1 mark, while others remain sceptical for its outlook.
620% jump in crypto value will take it to $1
As per Market Realist, if Shiba Inu maintains to grow at this rate, it will reach a value of $0.000019 per coin in 2022 and later hit $0.000061 per coin in 2025. That would be about 620% rise from the current value and will thus lure many investors. Still, there will be a long road for reaching $ 1.
“If Shiba grows at the rate of 20% per month, it would require five years to hit $1 the milestone, which points to 2025 at the earliest,” Market Realist reports in its findings.
How to Buy Shiba Inu
If you are looking to buy Dogecoin or Shiba Inu coin, you can use these apps:
1. WazirX
Download the WazirX app and sign up for the account. Before you start investing in Dogecoin, you need to do eKYC and enable the 2 Factor authentication. You also need to add your bank details to add and withdraw money.
Once you have added your bank account and perform KYC, you can check the available list of coins for trading. Tap on the Buy button in front of Dogecoin and then enter the amount you want to invest in the Dogecoin. You can make payments directly through bank deposit, credit card, debit Carr or UPI.
2. CoinSwitch
CoinSwitch is another notable and safe cryptocurrency exchange in India that lets you purchase and trade Dogecoin in India. You need to install the app, signup using your phone number, and add your bank account. As the app deals with crypto trading, you also need to do KYC. Once you have added your bank account, you can purchase the Dogecoin using Indian currency.