The Shiba Inu token is currently rallying and this current rise is fuelled by the tweets of Elon Musk. The coin’s price has pumped with a huge rise in volumes in the past 24 hours. The coin could possibly 2X or 5X from the current level if the price uptrend continues in the short term. The token is currently establishing a strong support zone near the $0.000011 region and the coin could delete another zero if the bulls can sustain the current rally. 

How & where to buy Shiba Inu in the UK and elsewhere

Shiba Inu has become very popular in a short span of time and is easily available on many crypto platforms. In order to purchase SHIB tokens, you will need to create an account on a crypto exchange/broker platform. The account registration process is easy and all you need to do is provide a username, password and email address. The site will then contact you via email and ask for additional information as part of the Know Your Customer (KYC) process that is required to keep the site safe for all users. You will be required to submit copies of your driving licence and utility bill to comply with the KYC rules. 

Please avoid trading on decentralised exchanges as they are unregulated. For your benefit, we have selected two of the best platforms where you can trade with ease. 

eToro

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CEX.IO

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What is Shiba Inu and why is it rallying?

The Shiba Inu token was created as an alternative to Dogecoin. It has since expanded to include a DEX called ShibaSwap and will also provide support for NFTs in the future. The coin gained a lot of publicity yesterday as Elon Musk tweeted a picture of his Shiba Inu dog. The Shiba Inu token started trending on social media soon after and the price rally does not seem to be slowing down. The token could scale higher and get rid of another zero soon if Musk can generate the same type of publicity as he managed with Dogecoin. 

Should I buy SHIB today?

The SHIB token is currently riding a huge rally and the early holders could receive handsome gains if the price spike continues in the future. 

The current price is attractive for retail investors and the upside potential is considerably higher for Shiba Inu. 

This article is informational only—none of the contents should be construed as financial or investment advice.

This post was originally published on Coinjournal.