Shiba Inu (SHIB) is one of the most widely known meme coins in the crypto space. Launched in 2020 as an alternative to Dogecoin, SHIB gained enormous popularity during the 2021 bull market and maintains a large, active community. If you want to buy Shiba Inu in India, this guide walks you through the process step by step.
What is Shiba Inu (SHIB)?
Shiba Inu is an Ethereum-based token launched anonymously in August 2020 by a developer known as Ryoshi. It was marketed as a Dogecoin killer and built a large community known as the “SHIB Army.”
Key facts about Shiba Inu:
- Runs on the Ethereum blockchain as an ERC-20 token
- Initial supply was 1 quadrillion (1,000 trillion) SHIB tokens
- A large portion was sent to Ethereum co-founder Vitalik Buterin, who burned about 40% of the total supply in 2021
- Has its own ecosystem including a DEX (ShibaSwap), an NFT platform, and a layer-2 chain (Shibarium)
- SHIB is priced in fractions of a cent, making it accessible to buyers at very small amounts
Is It Legal to Buy Shiba Inu in India?
Yes, buying SHIB is legal in India. It is classified as a Virtual Digital Asset (VDA) under the Finance Act 2022.
- Gains from SHIB are taxed at 30%
- A 1% TDS applies on qualifying transactions
- Losses cannot be offset against other crypto gains
Consult a qualified tax professional for advice specific to your situation. Tax rules are subject to change.
What You Need Before Buying SHIB in India
FIU-IND Registered Exchange
Choose an exchange registered with India’s Financial Intelligence Unit. ZebPay, India’s oldest crypto exchange, supports SHIB trading with INR and is FIU-IND registered.
KYC Documents
PAN card, Aadhaar card, and selfie.
INR Funds
Deposit using UPI, NEFT, or IMPS.
How to Buy Shiba Inu on ZebPay: Step-by-Step
Step 1: Download the ZebPay App
Available on Android and iOS.
Step 2: Register and Complete KYC
Sign up and submit your PAN, Aadhaar, and selfie for verification.
Step 3: Deposit INR
Go to Wallet and deposit using your preferred method.
Step 4: Search for SHIB
In the Markets section, search for SHIB or Shiba Inu.
Step 5: Place Your Buy Order
Enter your amount in INR and use Quick Trade to buy at the market price.
Step 6: View Your Holdings
SHIB will appear in your Portfolio after the transaction is completed.
How Many SHIB Can You Buy with ₹100?
Because SHIB is priced at a fraction of a cent, even ₹100 can buy you millions of SHIB tokens. This low per-token price is part of what makes SHIB appealing to new investors, though it is important to note that a low price per token does not make an asset cheaper or more valuable in any fundamental sense.
What matters for your investment is the total rupee amount invested and the total market cap, not the per-token price.
Shiba Inu Ecosystem: What Else to Know
ShibaSwap: A decentralised exchange on Ethereum where you can trade SHIB and related tokens.
Shibarium: A layer-2 blockchain built on top of Ethereum to enable faster and cheaper SHIB transactions.
BONE and LEASH: Other tokens within the Shiba Inu ecosystem with their own utilities.
NFTs: The Shiba Inu team has released NFT collections.
This ecosystem development sets SHIB apart from simpler meme coins, though its actual utility remains primarily community-driven.
Risks of Buying Shiba Inu in India
High Volatility: SHIB is one of the most volatile assets in crypto. Its price can rise or fall dramatically based on social media trends, celebrity mentions, and market sentiment.
Speculative Nature: SHIB’s value is largely driven by community sentiment rather than underlying technology revenue or adoption.
Large Circulating Supply: The total supply of SHIB is extremely large, which can limit significant price appreciation compared to assets with capped supplies.
Social Media Risk: SHIB rose sharply during periods of high social media attention. Attention can fade quickly, leading to significant price drops.
Ethereum Network Fees: If you transfer SHIB to an external wallet, Ethereum gas fees apply. During periods of high network activity, these fees can be significant.
Past performance does not guarantee future results. Always conduct your own research before investing.
Frequently Asked Questions About Buying Shiba Inu in India
What is the minimum amount to buy SHIB on ZebPay?
You can start with ₹100. Always conduct your own research before investing.
Is Shiba Inu a good investment in India?
SHIB is a highly speculative meme coin. While it has built an ecosystem and maintains a large community, its price is volatile and primarily driven by sentiment. Past performance does not guarantee future results. This is not financial advice.
Do I pay tax on SHIB profits in India?
Yes. Gains from SHIB are taxed at 30%. A 1% TDS applies on qualifying transactions. Consult a qualified tax professional for your specific situation.
Is Shiba Inu the same as Dogecoin?
No. DOGE has its own blockchain while SHIB runs on Ethereum. Both are meme coins, but they are distinct assets with different technologies and communities.
Can the SHIB price reach ₹1?
Given SHIB’s enormous total supply (hundreds of trillions of tokens), reaching ₹1 per SHIB would require a total market cap far exceeding any reasonable projection. Be cautious of speculative price targets. This is not financial advice.
How do I sell SHIB on ZebPay?
Go to your Portfolio, select SHIB, and place a sell order for INR.
What wallet should I use for SHIB?
SHIB is an ERC-20 token on Ethereum. MetaMask, Trust Wallet, and Ledger all support SHIB. Make sure you are using the Ethereum (ERC-20) network when withdrawing.
Final Thoughts
Shiba Inu is a well-known cryptocurrency with an active community and growing ecosystem. Buying SHIB in India through a regulated exchange like ZebPay is simple and accessible even at very small investment amounts.
SHIB is a highly speculative asset. Its price is volatile and driven primarily by community sentiment. Only invest what you can afford to lose, keep records of all transactions for your ITR, and make decisions based on your own research rather than social media trends.
Get started today and join 6 million+ registered users exploring crypto investing on ZebPay!
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The information in this article is for educational purposes only and does not constitute financial or investment advice.