The Shiba Inu Coin has been gaining in popularity since its launch in August 2020. Many investors have been keeping an eye on the coin’s price, as it has been steadily on the rise. This article will take a look at the Shiba Inu Coin Price AUD and provide a comprehensive overview of the current market conditions. It will also provide a comparison of the Shiba Inu Coin Price AUD against other major cryptocurrencies.
Shiba Inu Coin Price Aud Overview
Shiba Inu Coin (SHIB) is a decentralized cryptocurrency based on the Ethereum blockchain. It was founded by the anonymous founder, Dogecoin creator Jackson Palmer and the Ethereum co-founder Vitalik Buterin. The coin was initially created as a joke, but it has since gained traction as a legitimate digital currency. The coin is currently ranked among the top 10 cryptocurrencies by market capitalization.
Shiba Inu Coin has a fixed supply of one trillion coins, and it is not mineable. The coin is designed to be used as a medium of exchange, store of value, and unit of account. The coin is extremely volatile and has seen significant gains in its price since its launch.
About Shiba Inu Coin Price AUD
The Shiba Inu Coin Price AUD is currently trading at $0.003623, which is up by 13.43% over the past 24 hours. The coin has seen a significant increase in its price over the past few months, and it appears to be trending in an upward direction. The coin has seen a high of $0.004250 and a low of $0.003417 over the past 24 hours.
The current market capitalization of Shiba Inu Coin is $11,890,588,376, which is ranked at #10 in the cryptocurrency markets. The 24-hour trading volume of the coin is $6,818,228,882, which is up by 32.60% over the past 24 hours.
Comparison of Shiba Inu Coin Price AUD with Other Cryptocurrencies
When compared to other major cryptocurrencies, the Shiba Inu Coin Price AUD is significantly lower than Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). Bitcoin is currently trading at $36,999, Ethereum is trading at $2,654, and Dogecoin is trading at $0.063799. When compared to these major cryptocurrencies, Shiba Inu Coin appears to be undervalued.
Analysis of Shiba Inu Coin Price AUD
The Shiba Inu Coin price AUD has seen a steady increase since its launch in August 2020. The coin has seen a high of $0.004250 and a low of $0.003417 over the past 24 hours, which is an increase of 13.43%. This indicates that the coin is trending in an upward direction, and investors are likely to benefit from this trend.
The coin has a total market capitalization of $11,890,588,376, which is ranked at #10 in the cryptocurrency markets. The 24-hour trading volume of the coin is $6,818,228,882, which is up by 32.60% over the past 24 hours. This indicates that there is strong demand for the coin, and investors are actively trading it.
Comparison of Shiba Inu Coin Price AUD with Other Cryptocurrencies
When compared to other major cryptocurrencies, the Shiba Inu Coin Price AUD is significantly lower than Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). Bitcoin is currently trading at $36,999, Ethereum is trading at $2,654, and Dogecoin is trading at $0.063799. When compared to these major cryptocurrencies, Shiba Inu Coin appears to be undervalued.
Risks of Investing in Shiba Inu Coin
Although Shiba Inu Coin has seen significant gains in its price since its launch, investors should be aware of the risks associated with investing in the coin. The coin is highly volatile, and its price can fluctuate rapidly. Additionally, the coin is not backed by any underlying assets, and there is no assurance that it will maintain its value over time. As such, investors should only invest in the coin if they are willing to accept the risk of loss.
Conclusion
In conclusion, the Shiba Inu Coin Price AUD is currently trending in an upward direction. The coin has seen significant gains in its price since its launch, and it appears to be undervalued when compared to other major cryptocurrencies. However, investors should be aware of the risks associated with investing in the coin, as it is highly volatile and not backed by any underlying assets. Investors should keep an eye on the coin’s price, as it may continue to rise in the future.