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Shiba Inu
SHIBRank #32What is Shiba Inu?
Shiba Inu (SHIB) is a decentralized, community-led cryptocurrency ecosystem built on the Ethereum blockchain. Originally launched as a meme-based project, it has evolved into a comprehensive financial ecosystem designed to offer a decentralized alternative to traditional banking. Its main value proposition lies in its transition from a social phenomenon into a functional utility network, supported by a vast global community known as the ShibArmy and a commitment to 100% community ownership with no central leadership.
The ecosystem features its own decentralized exchange, ShibaSwap, where users can trade, provide liquidity, and earn rewards. To address Ethereum’s high costs and slow speeds, the project utilizes Shibarium, a Layer 2 scaling solution that processes transactions faster and more affordably.
How to Buy Shiba Inu in India
The easiest way to buy Shiba Inu (SHIB) in India is through an FIU-registered Indian exchange. Here's how:
- Create an exchange account — pick an exchange that appears on the FIU-IND register and complete KYC verification (Aadhaar + PAN). Takes under 10 minutes.
- Deposit INR — Add funds via UPI, IMPS, or bank transfer. No minimum deposit.
- Search for SHIB — Use the search bar to find Shiba Inu. Tap on it to open the trading pair.
- Place your order — Enter the amount in INR you want to invest. Use a market order for instant purchase, or a limit order to set your price.
- Secure your holdings — Your SHIB is stored in your exchange wallet. For large amounts, consider transferring to a hardware wallet.
Tax on Shiba Inu in India
30% flat tax on all crypto profits under Section 115BBH of the Income Tax Act. No deductions allowed except cost of acquisition.
1% TDS on all crypto transactions above ₹10,000 under Section 194S. This is deducted automatically by Indian exchanges and can be claimed as credit when filing ITR.
Losses from Shiba Inu trading cannot be set off against gains from other cryptocurrencies or any other income. Each transaction is taxed independently.
For a complete breakdown of crypto taxation in India, including ITR filing steps and airdrop rules, read our Crypto Tax India 2026 Guide.
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