The candlestick chart above shows the current price movements of Shiba Inu (SHIB) in AUD, since its release in 2020. These charts are designed to help traders identify future price actions; traders can view custom timeframes to see how SHIB price was affected during specific events.
Candlestick charts display the high, low, open and close price of an asset over a specific time period. They are a great tool used by all successful traders to develop trading strategies and perform crypto technical analysis.
To learn more, check out our guide to candlestick charts on Swyftx learn.
Shiba Inu (SHIB) is a popular meme coin that takes its name from to Japanese dog breed, turned internet meme. SHIB was created in 2020 by an anonymous developer known as Ryoshi.
Shiba Inu has a vast ecosystem that has been built 100% by its community. The SHIB ecosystem includes a decentralised exchange (ShibaSwap), NFT artist incubator and an NFT project featuring an array of pixelated Shiba Inu’s.
SHIB rose to popularity in 2021 after Tesla CEO, Elon Musk, began to tweet about his increasing interest in a competing meme coin, DOGE.
Check out our guide to Shiba Inu (SHIB), to learn more.
SHIB has seen some astronomical gains since its initial release. Tesla CEO, Elon Musk, played a key role in the rise of SHIB after promoting DOGE on live tv. This caused the price of SHIB to rise by roughly 14m percent. Meme coins, like SHIB, are well-known for their extreme volatility due to their lack of utility and large circulating supply.
Meme coins are cryptocurrencies inspired by memes and popular culture. These coins are often created as jokes and have little to no utility. Shiba Inu and Dogecoin are the two most successful meme coins that have gained popularity through social media and promotion from influencers.
The two coins have had astonishing growth with DOGE increasing by over 20,000% and SHIB with an increase of 27,000,000%.
The key difference between the two meme coins is SHIB’s compatibility with the Ethereum ecosystem. This allows Shiba Inu’s community of developers to build decentralised applications within the SHIB ecosystem.
Another key difference is the circulating supply of each asset, DOGE has an unlimited supply whereas there is a total supply of six hundred trillion SHIB tokens in circulation.
You can invest in SHIB with Swyftx crypto exchange. Create an account by providing your name, email address and phone number. To activate your account, you’ll need to verify your ID by submitting a copy your identification (I.e. driver’s license or passport)
Once your account has been verified, you can deposit AUD via numerous payments methods including: Credit or debit card, Bank transfer, OSKO, PayID, POLi, Crypto deposit.
Take advantage of our low fees, low spreads, low prices, and feature-packed app to unlock your trading & investing potential today.Signup Now