New Delhi: Beware Dogecoin fans, a new rival has arrived based on the logo of’ ‘Doge’ itself. Yes, a new coin with the name of ‘Shiba Inu’ has entered the world of cryptocurrencies. Dogecoin was first released into the market in 2013 as a joke by its creators, Jackson Palmer and Billy Markus. SInce then, the coin has grown in value to become an up and coming currency.
Not much is known as to from where the Shiba Inu coin came but it works as part of a decentralised exchange website. Fans are now wondering if the Shiba Inu coin will follow its predecessor and rival Dogecoin while aiming to hit $1.
Value of Shiba Inu and Dogecoin
The value of Shiba Inu today (15th May 2021) has fluctuated between a 24 hour low of $0.00001705 and a high of $0.00002075, at the time of writing. While, the Dogecoin has been on a steady incline since the beginning of 2021. Though it is yet to hit the $1, Dogecoin reached an all-time high of $0.50 on Saturday.
The market cap for Shiba Inu (SHIB) is $17.47 billion at the time of writing whereas, for Dogecoin the market cap for the currency is $65.80 Billion, which is a slight dip from where Forbes had placed it at $69 Billion, earlier in the May, 2021.
How to Buy
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.