Shiba Inu cryptocurrency coin has been the latest craze in meme token investing. The coin was created as a meme to compete with the other fellow doggo coin — Dogecoin. Now, Canadians have the opportunity to buy Shiba Inu coins, without paying massive transaction fees.

The frenzy of meme coins became a thing when Dogecoin soared from $0.003 in October 2020 to $0.7 in May 2021. This is over a 23,000% gain in a few months. This Dogecoin frenzy made some millionaires along this growth phase paving the way to the birth of many other meme coins.

What is Shiba Inu?

Shiba Inu coin was created back in August 2020 as a meme coin to battle it out with Dogecoin. It is self-titled “DOGECOIN KILLER.” Shib traded at around $0.00000001 in March 2021 and soared to $0.000035 in May 2021. This is a growth of 350,000% in a matter of three months. The frenzy did not stop there. Shib soared once more to $0.00008 by October 2021. This is almost 800,000% growth in a matter of seven months.

Shib created billionaires. Soon after this massive growth, one particular crypto wallet was being paraded around social media. This wallet had an initial investment of $8,000 in Shiba Inu back in 2020. This investment had grown into a staggering $5 billion by October 2021.

Shiba investors believe the best is yet to come. Although the coin started its journey as a meme coin, it is starting to gain real-world utility. Some enterprises have talked about allowing customers to pay for services using Shib coins.

Shiba Inu coin can be purchased on crypto exchanges such as Binance, Crypto.com, and several others. However, the coin is not yet listed on the famed Robinhood app, on which the meme frenzy of Dogecoin was born. Shib investors expect a Robinhood listing of Shiba coin soon. If this happens, there will be another breakout of meme investing frenzy.

How to buy Shiba Inu coin in Canada?

When a crypto coin is quite popular, the buyers and sellers of the said coin have to pay a hefty fee called ‘gas fee.’ These fees are paid to clear the said transactions on a particular cryptocurrency blockchain such as Ethereum (Shib is an Ethereum based coin).

Canada’s favorite investing app Wealthsimple just added Shiba Inu coin to their portfolio of cryptocurrencies. This listing gives Canadians a lot of conveniences to buy and sell the Shiba Inu coin without having to go through the hassles and fees of the cryptocurrency exchanges.

Wealthsimple Crypto is part of the Wealthsimple family of products including Wealthsimple Trade, Wealthsimple Invest, Wealthsimple Cash, and so on. It is Canada’s first commission-free trading app and is often compared to its US counterpart, Robinhood.

If you don’t have a Wealthsimple Crypto account, you can open one in under 10 minutes when you click on the image above. As a sign-up bonus, you will also receive some free stocks (not crypto).

As usual, this is not advise for you to buy Shiba Inu coin. This article is just bringing you the latest information regarding a popular cryptocurrency and often dubbed a ‘meme’ token. So, do your due diligence before investing in these high-volatile assets.