Introduction
Shiba Inu coin has only been around for a few years, but it has managed to gain the interest of many cryptocurrency market participants. It's new and exciting. The coin was created as an alternative cryptocurrency and it even managed to surpass Dogecoin in terms of market cap and has been nicknamed 'Dogecoin Killer'.
This coin is available as a crypto asset labelled as Shiba (in millions) and can be traded on the eToro online investment platform so if you'd like to know more on how to invest on this emerging crypto then continue reading this article.
| 🏷️ Crypto Name | Shiba (in millions) |
| 🚩 Symbol | SHIBxM |
| 💰 Minimum Investment | $10 |
| ⌚ Market Open | 24/7 |
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro's Shiba (in millions)
Shiba Inu is offered on eToro as a share in "Shiba (in millions)" which is a lot of one million Shiba Inu units. This makes the asset price easy to understand. The trade in this asset is open to all users and you can choose the amount you want to invest, depending on your budget.
How to Trade Shiba Inu on eToro?
You can invest on Shiba Inu via eToro's online trading platform. Once you have opened an account and made your first deposit, follow the very basic steps below:
- On your eToro dashboard, click "Discover".
Clicking "Discover" on eToro - Select "Crypto".
Selecting "Crypto" on eToro's platform - Scroll down to look for "SHIBxM".
 on eToro's list of crypto assets.webp)
Looking for Shiba on eToro's list of crypto assets - Click "Buy" and set the amount you want to invest.
 on eToro's platform.webp)
Buying Shiba (SHIBxM) on eToro's platform - "Click "Open Trade".
Executing SHIBxM buy order on eToro
eToro's Research Tab for Shiba Inu
If you're an intermediate or experienced trader and would like to apply technical analysis based on actual data and research then you can take advantage of the platform's "Research" tab where you can find a technical analysis summary. This is an aggregate of the sell, buy and hold signals from 8 of the most commonly used technical indicators so you can have a better understanding of the current market sentiment.
There are also several technical indicators that you can take use such as RSI 14, MACD, CCI, Moving Averages and more, and it will give you a detailed signal for each of these indicators.
You might also want check out their Market News Research section which is located at the bottom part of the tab. This lists all the latest relevant news that could potentially affect the price of Shiba Inu.
The eToro Crypto Wallet for Shiba Inu
Worried about losing your crypto? You don’t have to. You’ll be getting access to an eToro wallet on your phone powered by Android or iOS. It is free to install, safe and has high-level security features.
One of the more popular features on eToro is its crypto wallet which makes it easy to trade cryptocurrencies. It is a secure and accessible easy-to-use multi-cryptocurrency digital wallet for storing over 120 different cryptocurrencies including SHIB. With this wallet, you can buy, store, receive and transfer all your cryptocurrencies with ease.
As eToro is specialized in crypto, not only can you send and receive it but you can also convert one type of cryptocurrency to the other. For example, you could change Shiba Inu into Bitcoin, Ethereum and any other cryptocurrency the wallet supports.
eToro Shiba Inu Stats
Shiba Inu is one of eToro's top cryptoasssets based on the report it released for their Q4 2021 Investor Update (March 2022)[1]. Next to Bitcoin, Ethereum, Cardano and Ripple, SHIBxM had a trading volume of 4% and 3% of all the assets under administration for the year 2021. This is even higher than Dogecoin, which had a share of 2% of all the cryptoassets.
| Crypto Asset | Trading Volume | Assets Under Administration |
|---|---|---|
| Bitcoin | 29% | 23% |
| Other cryptoassets | 18% | 21% |
| Ethereum | 15% | 21% |
| Cardano | 11% | 17% |
| Ripple | 9% | 13% |
| Shiba Inu (in millions) | 4% | 3% |
| Dogecoin | 4% | 2% |
SHIB's Price by End of 2021
When it was launched in August 2020, SHIB's initial price was $0.000000000056 according to CoinMarketCap[2]. At the end of 2021, the value of 1 SHIB was already $0.00003341, which is equivalent to an increase of 59660614%.
Price of 1 Million Shiba Inu Units
Keeping track of Shiba Inu's price can be quite confusing for traders since it's value is less than 1 cent. For the purpose of clearer understanding of the pricing, the value of 1 million Shiba Inu units was used in the graph below so that it will be presented in a much simpler format of 2 decimal points.
Based on the latest data from Statista[3], the price if 1 million SHIB started below $1 from August 2020 to March 2021. Just 8 months after it was launched, the value already reached $1.4 and it managed to reach a peak of $65.03 by October 2021. For the year 2022, the value of 1M SHIB is ranging from around $20 to $30.
Shiba Inu Coin vs Dogecoin Worldwide Interest
Being the top 2 most valuable and popular memecoins in the cryptocurrency market today, there has been a considerable interest with these 2 digital tokens over the past few months.
Here is a 12-month comparison of worldwide interest between these 2 popular memecoins based on a data that we generated from Google Trends[4]. Looking at the graph below, Dogecoin managed to reach a peak of 100% from May 2 to 9, 2022, while interest in Shiba Inu coin had a peak of 59% on October 24, 2021. Both crypto assets now have much closer figures.
Shiba Inu Interest by Country
Users from Turkey and USA are the most interested about Shiba Inu. These figures were taken from Google Trends based on a data generated for the year 2020 to 2021[5].
| Country | Interest Score |
|---|---|
| Turkey | 100 |
| USA | 39 |
| Cyprus | 37 |
| Australia | 37 |
| Canada | 33 |
| Nigeria | 31 |
| Singapore | 29 |
| Puerto Rico | 24 |
| Spain | 21 |
| UAE | 19 |
Top Social Media Influencers
Shiba Inu remains to be among the most dominant cryptocurrencies in social media, particularly in Twitter. If you want to keep track of this particular crypto, then you might want to pay attention to these top social media influencers:
| Influencer | Twitter Handle | Followers |
|---|---|---|
| SHIB Informer | @ShibInformer | 502.4K+ |
| Shiba Inu to $1 | @ShibInform | 441.6K+ |
| SHIB BARKER WOOF! | @ShibInfo | 386.3K+ |
| SHIB HODLER | @ShibaInuHodler | 337.2K+ |
| MILKSHAKE | @shibainuart | 291.9K+ |
| Shibburn | @Shibburn | 225.1K+ |
| Shiba Inu Army/Community | @ShibaAustralia | 113.5K+ |
| Gossip SHIB | @GossipShib | 37.7K+ |
Is Shiba the Right Crypto for You?
While it is a lesser-known cryptocurrency, Shiba is quickly catching up to that of Dogecoin. It already rivals the market capitalization and has a much smaller coin amounting to hundreds of million dollars. There are definitely some changes happening in the crypto space and SHIB's price has been going up at a really fast rate.
Just like the Doge which became a phenomenon, it might be worth investing in Shiba Inu as it starts to go up too because this could open a lot of trading opportunities for you. The best thing about eToro is that you don't have to worry about anything related to cryptocurrencies because you can quickly invest on them via its online platforms.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
References
- ^ Fintech Acquisition Corp V Merger Prospectus/Communication 425 SEC.report
- ^ Shiba Inu Price History and Prediction CoinMarketCap
- ^ Shiba Inu price history 2020-2022 Statista
- ^ Shiba Inu coin, Dogecoin Google Trends
- ^ Shiba Inu coin Google Trends