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Shiba Inu down by 7%; Drops below key support level; buy or sell?

The value of Shiba Inu (12th June 2021) has fluctuated between a 24 hour low of Rs 0.000422 and a high of Rs 0.000523, at the time of writing.

Published

1 year ago

June 12, 2021

Newsroom Staff

New Delhi: Shiba Inu self hailed as Dogecoin killer has been the flavour of the season in the cryptocurrency market as it is garnering huge attention among new investors. Bitcoin and Ethereum’s downfall in recent crypto crash only helped it strengthen its value.

But since yesterday Shiba Inu is facing a big downfall as it seems that holders are selling the coins in big margin.

The value of Shiba Inu (12th June 2021) has fluctuated between a 24 hour low of Rs 0.000422 and a high of Rs 0.000523, at the time of writing.

So is this the right time to buy Shiba Inu?

Yes, this is the right time to buy as the price is really low this time. Right now you can buy 2,14,000 SHIB coins at just Rs 100, isn’t it great. You can buy now as it is expected that Shiba might recover well.

Will Shiba Inu reach $ 1 by 2025?

Currently, the crypto is selling at about $0.0000085 per coin with total market value of $3.4 billion. This gives it a plenty of space to grow and consolidate.

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.

Shiba Inu, Dogecoin, Ripple, Bitcoin: Check real time Crypto prices here

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.

However, if it continues at this pace as currently going, it may reach $ 1 even by end of 2021, reports the leading cryto analysis portal.

“If Shiba maintains that level of growth, it could reach $1 in 2021. However, if it 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.

Will Shiba Inu reach $ 1 by 2025?

Currently, the crypto is selling at about $0.0000085 per coin with total market value of $3.4 billion. This gives it a plenty of space to grow and consolidate.

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.

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.