Is Shiba INU crypto halal? It’s similar to DOGE but it’s not included in the list of the top 50 Sharia compliant cryptos
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I too would like to know this. If it is exactly the same does the same ruling applies?
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I would like to know aswell. Is it a pump and Dump coin?
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will love to know if it’s halal
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Yeh I would like to know aswell
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Salaam everyone, as the forum doesn’t offer token screening, i’m not sure the Muftis will answer the query.
Thanks.
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AoA
Dear Mufti
Please advised that the shib coins is halal or Haram? My friend have done the huge investment in this coin. Please look into the matter. I am waiting
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As Salaamu Alaykum all.
First, the forum does not screen tokens. These posts usually get locked.
Second, let’s answer what is Shiba? Shiba is a meme coin that doesn’t have a purpose in and of itself. It was created as a joke. From this, in my opinion, one should not consider Shiba a wise investment at all. It is almost purely speculation only based on hype. If the hype dies, the project dies. Thus, the value of the coin will crash hard if the meme dies, or is replaced by another meme.
Third, while Shiba does not have a use case, the developers are now trying to give the coin some purpose with Shibaswap, a decentralised exchange. This is purely an experimental endeavor since the coin has exploded in popularity for no reason.
I personally have no reason to believe Shiba is haram, in that it is not involved in riba. However, I think it’s somewhat of a grey area with regards to whether or not it is gambling. Reason being, the coin has no purpose. It’s much like buying official branded Monopoly money, just because a lot of people start doing it, which gives it value. If you invest in Shiba, make sure you have researched what the developers are doing with the ecosystem, with regards to LEASH, BONE and Shibaswap. If you believe the coin will have a purpose in future, then maybe you can justify buying Shiba not being gambling.
This is a good video:
https://www.youtube.com/watch?v=r-a8YeIVpzA
Please note, none of this is financial advice at all. I am no expert.
If I have made an error, which I may have, I encourage everyone to correct me.
Jazak Allah Khair
Salaam.
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you can try to invest some money here:
https://aura4.finance/?ref=5964
suggestion: please don’t invest too much as beginer, just try from <$100. after you make sure earn from here and make sure you know how to use it, you can try more.
I am not buying SHIB, it is just in the HUOBI platform, just from a daily log in you can get a chance for a lucky draw, amongst the rewards is SHIB. Should I ignore the rewards or I can sell them and withdraw?
In my humble opinion, SHIB (Shiba Inu) is not halal, based upon the premise that Sharia-compliant transactions must be backed by tangible and identifiable assets that anchor the financial sector in the real economy.
The problem SHIB posseses it that it does not have a real-World case usage, unlike it’s older memecoin sibling, DOGE (Dogecoin). Both are altcoins, but SHIB is (and there’s no polite way of saying this), nothing but a 
coin, irrespective of its very high capitalisation (currently ranked 15th out of all cryptocurrencies).
Though DOGE was initially created as a joke, the notorious market manipulator Tweeter and Einstein of our times, Elon Musk, has essentially single-handedly transformed DOGE as a legitimate currency to purchase Dogecoin-eligible products from Tesla’s website (source: https://www.tesla.com/en_GB/support/dogecoin ).
For that reason, DOGE has become halal, but SHIB is not halal, IMHO.
(Allah is the All-Wise, and Allah is the Most-Forgiving, and Allah loves to forgive, so may Allah forgive me, should my opinion be inaccurate and/or incorrect, and/or flawed in any way).
Assalamualaikum, can you confirm again for shiba inu halal status? The token currently have real use case which is shibaswap. Not just a meme and joke token.