BREAKING: -- Bitcoin com au -- officially lists #shiba-inu
Shiba Inu (SHIB) is a memecoin—a distinction it which also has a Japanese dog breed as a mascot.
A memecoin is an ‘altcoin’—a cryptocurrency other than Bitcoin—which is based on an internet meme. This, in turn, is a kind of online inside joke in the form of an image repeatedly altered and shared.
SHIB is one of the top 15 cryptocurrencies based on market capitalisation, making it one of the largest memecoins in the market.
While one SHIB is currently worth around $US0.0000272, that’s down by around 70% from its peak in October 2021, when Tesla owner and owner of X (formerly Twitter) Elon Musk tweeted about the memecoin.
SHIB is a great example of the volatility of cryptocurrencies, which often fluctuate huge amounts within short periods of time.
If you’re considering investing in crypto, you should be prepared to lose everything you put in—that’s the warning from the Australian government-backed Moneysmart.
But if you’re aware of the risks and still want to buy Shiba Inu, here’s how to do it.
