How to buy and hold SHIB with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for Shiba Inu (SHIB) storage
Ultimate security, only you have access to your Shiba Inu tokens
Send, Receive, Store your Shiba Inu tokens free and without limitations
Check the real-time value of your crypto tokens
Buy, Sell, Exchange Shiba Inu (SHIB) directly in the wallet
Stake Shiba Inu (SHIB) by connecting Wigwam to the popular DeFi dApps
No KYC or personal data collected
Shiba Inu (SHIB) Review
Shiba Inu was launched by Ryoshi in August 2020. Ryoshi envisioned a cryptocurrency project that is 100% decentralized and run by a diverse community. Shiba also launched its ERC-20 meme cryptocurrency SHIB, on the Ethereum blockchain.
The Shiba community introduced its layer 2, Shibarium blockchain in January 2023. Built to offer scalability, lower gas fees, and further utilize the SHIB tokens for staking.
Ryoshi envisioned a 100% community-run crypto meme project, and memes depend on social media trends and people. Ethereum was chosen for the project as it boosts a hugely diverse and decentralized community, allowing Shiba Inu to change and evolve without any impact from outside and stay true to its vision of being a 100% decentralized community-run crypto project.
SHIB Use Cases
SHIB is a decentralized meme coin that has emerged as an alternative to Dogecoin. The coin has the following usage in the Shiba Inu ecosystem.
Yield Farming: SHIB tokens can be staked on ShibaSwap to provide liquidity and earn more SHIB. The tokens can be used to “DIG”, “BURY”, and “FETCH” on the ShibaSwap, generating “WOOF” Bone tokens as a reward.
Staking: In the Shibarium blockchain, validators, and delegators can stake their SHIB and earn rewards in Bone.
SHIB has a total supply of 1 Quadrillion and its founder Ryoshi has locked 50% in Uniswap for liquidity and another 50% to Ethereum co-founder Vitalik Buterin for safekeeping.
It's worth noting that in 2021 Buterin burned 40% of SHIBA from circulation by moving it to a ‘Dead Wallet’. Shortly after this permanent removal, SHIB’s value increased with the market capitalization of $41 Billion on October 29, 2021.
At the time of writing this article, Shiba still ranks in the top ten among all meme crypto, just second to Dogecoin.
SHIB essentially has no value as its status meme coin, during the 2021 viral internet trend, SHIB managed to gain the epic market capitalization of $41 Billion on October 29, 2021. However, in 2024, SHIB has yet to manage to recreate such gains, and the token holders are looking elsewhere to make substantial gains.
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
SHIB might not be a widely available cryptocurrency like Bitcoin and ETH; however, you may easily buy Shibu Inu in the Wigwam crypto wallet. Also, there are some well-known centralized exchanges such as Binance, and CoinBase Exchange, and decentralized exchanges such as SushiSwap and UniSwap where you can purchase SHIB coins.
The steps specifics might vary based on the wallet you are using but the general steps will be as follows:
Open your crypto wallet, Navigate to “Manage Assets”, and then click on “Add Token” This will open a list of blockchains, select Ethereum chain, and then enter the SHIB token details as follows
- Token Contract Address: 0x95aD61b0a150d79219dCF64E1E6Cc01f0B64C4cE
- Token Symbol: SHIB
- Decimal Precision: With 18 Decimals
After entering the token details, click “Save” to add the token to your wallet.
Yes, in Shiba Inu’s ecosystem, staking is known as "Burying" where you can bury your SHIB into staking platforms like ShibaSwap or wallets. The staking rewards known as xBONE, xSHIB, and xLEASH tokens, are proportional to the number of Shiba Inu tokens staked.
Investing in any meme cryptocurrency comes with a high risk of the crypto market price volatility and internet trend dependability. Since it is a meme coin that started as a joke, its value largely depends on social media hype, even though its founder Ryoshi has launched Shibarium to better utilize the SHIB coin, it is better to thoroughly research the market before investing in SHIB.