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What is Shiba Inu? How to buy Shiba Inu coin as price surges following Dogecoin drop

The cryptocurrency Shiba Inu coin has nearly doubled in price. Here's what to know about Shiba Inu, including how to invest and where to buy

Dogecoin now has a rival — its own logo.

Shiba Inu coin has nearly doubled in price over the past day after Binance announced it would be listed on its platform, while Dogecoin has plunged 15.45%, according to a report by Newsweek.

The cryptocurrency has spiked 82.90% within 24 hours, while spiking 1621.50% within the past seven days, according to real time data tracked by CoinMarketCap (Note: market capitalization is constantly changing). One Shiba Inu coin is currently worth $0.00002763.

What is Shiba Inu coin?

Shiba Inu is a cryptocurrency experiment in decentralized community building and is inspired to be similar to Dogecoin, according to Crypto.com.

How to buy Shiba Inu coin

Shiba Inu coin is available to purchase on Crypto.com and Binance.

Another option is to use Ethereum to swap into Shiba Inu tokens on Uniswap’s exchange, according to a report by Benzinga.

What is cryptocurrency?

Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. It’s decentralized, meaning it isn’t controlled by the government or any other central authority such as a bank.

If you’re interested in investing in other cryptocurrencies such as Bitcoin, Ethereum, Tether and Litecoin, here are some options to get you started:

If you want to educate yourself more on cryptocurrency and how it works, you can always enroll in an online course, too. Courses are offered at online platforms Coursera, LinkedIn Learning and Udemy.

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Nicolette Accardi can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips

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