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About Shiba Inu (SHIB)

Shiba Inu (SHIB) is a meme coin that aspires to be an Ethereum-based alternative to Dogecoin. Created in August 2020, Shiba Inu was colloquially nicknamed ‘the Dogecoin killer.’ 

During its initial launch, 50% of the supply of SHIB was allocated to Ethereum co-founder Vitalik Buterin. This was one of the reasons that caused the price of SHIB (AUD) to soar. Following this, Buterin donated 10% of all SHIB in existence to the Indian COVID-19 relief effort. This donation was worth about $1 billion at the time. The other 40% of SHIB that Buterin owned was burned forever. 

Shiba Inu is looking to break into the DeFi space, after building a decentralised exchange called ShibaSwap, alongside a Layer 2 blockchain (Shibarium) and an NFT collection (Shiboshis). 

You can buy Shiba Inu coin on the Swyftx crypto trading platform

How to Buy Shiba Inu (SHIB) in Australia

  1. Signup for free
  2. Verify your account
  3. Deposit AUD instantly
  4. Buy SHIB

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Shiba Inu FAQs

  • Shiba Inu FAQs
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How can I buy Shiba Inu in Australia?

The most popular way to buy and sell Shiba Inu coin and other cryptocurrencies in Australia is through a cryptocurrency exchange. Our trading platform allows you to buy, sell and swap hundreds of different crypto assets with low trading fees.

To Buy SHIB, you'll first need to create an account by providing your name, email address and phone number. Once your account is created, you'll then need to verify your identity by providing a few key details. This typically takes no longer than a few minutes to complete. The last step before you can trade SHIB tokens is to deposit funds into your account. Swyftx allows users to make deposits via bank transfer, POLI, PayID or debit card. Once your deposit has landed, you can buy Shiba Inu and other listed digital assets on the Swyftx exchange.

What’s the difference between Shiba Inu and Dogecoin?

Dogecoin was cast into the limelight after Elon Musk tweeted his fondness for the meme coin, although it has been around for over a decade. But the new interest in such assets caused a rush of new memecoins, with Shiba Inu leading the charge.

Dogecoin uses the same consensus technology as Bitcoin meaning it is a proof-of-work blockchain. On the other hand, Shiba Inu is an ERC-20 token that runs on the Ethereum network, meaning it can leverage smart contracts.

Both DOGE and SHIB have a far more abundant token supply when compared to other cryptocurrencies. There is over 100 billion DOGE and over 500 trillion SHIB in circulation. These extremely abundant token supplies have made the Dogecoin and Shiba Inu prices very low. Despite this, both cryptocurrencies have a market cap of over $1 billion.

Where is the best place to buy Shiba Inu?

The best place to buy Shiba Inu is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Shiba Inu and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.

How is the price of Shiba Inu determined?

The price of Shiba Inu is determined by the forces of supply and demand in the market. Similar to other assets, the price of Shiba Inu is determined by the number of buyers and sellers in the market at any given time.

Some significant factors that can influence the demand for Shiba Inu are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.

Can I buy Shiba Inu with credit card?

Swyftx does not allow you to directly buy Shiba Inu with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy Shiba Inu instantly.

Top Traded Assets on Swyftx

By number of orders

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Period: Last 24 hours (AUD)

SHIB Buys and Sells

By number of orders

60% Buy

Period: Last 24 hours

This should not be used to make investment decisions.

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What is Shiba Inu (SHIB)?

Shiba Inu is a popular meme coin and the self-proclaimed “Dogecoin killer”. Learn how SHIB differs from DOGE and what the Shiba Inu ecosystem has to offer.

Disclaimer: The information is for general information purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any assets. It has been prepared without regard to any particular investment objectives or financial situation and does not purport to cover any legal or regulatory requirements. Customers are encouraged to do their own independent research and seek professional advice. Swyftx makes no representation and assumes no liability as to the accuracy or completeness of the content. Any references to past performance are not, and should not be taken as a reliable indicator of future results. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose. Consider our Terms of Use and Risk Disclosure Statement for more.