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Official: SHIB hits 1 million holders milestone

Official: SHIB hits 1 million holders milestone
Jordan
Major
1 day ago
3 mins read

Shiba Inu (SHIB) has progressively risen in popularity and mainstream media attention, reaching a total of one million token holders due to this growth.

The decentralized dog meme currency reached the milestone on Thursday, November 25, after seeing a significant increase in the number of token holders over the previous several months. According to data collected by Finbold, Shiba Inu currently has 1,000,018 token holders as of the time of publication.

SHIB 1 million token holders. Source: Etherscan.io

We reported yesterday that SHIB was less than 5,000 holders away from achieving the 1 million holder milestone, with a total of 995,285 holdings. As a result, Dogecoin’s (DOGE) Ethereum-based rival ranks fifth in terms of total holders among the 470,782 ERC-20 tokens on the Ethereum network recorded by Etherscan.io.

Shiba Inu price

Interestingly, Shib is back in the green today and trading over the $0.00004 mark, having gained 7% in the past 24 hours after losing 9.93% in the previous week. 

The entire market capitalization of the dog meme currency is $21.9 billion at the time of writing. According to top crypto trading expert Michael van de Poppe, SHIB’s price has not retested at $0.00003799, and he has affirmed that should Shiba Inu’s price drop lower below the $0.00003 level, he would be “interested here”.

SHIB/USDT chart. Source: Michael van de Poppe

Shiba Inu still popular among retail investors 

A significant point to note is that the number of Shib holders has continued to grow despite a tiny reduction on November 19, the first decrease since October. Following a recent parabolic ascent to record highs, the number of individuals who possess the cryptocurrency has not stopped increasing.

However, whether the passion of the army of retail traders who helped it surge by more than 535% to a record high of $0.00008854 earlier this year has waned remains a source of uncertainty. 

The fact that the currency is still not listed on popular trading platforms like Robinhood and Kraken may indicate that more retail investors expect the coin to gain value in the foreseeable future. For example, after its listing on Coinbase, the token saw an influx of $870 billion within 24 hours of its debut on the cryptocurrency exchange.

By the same token, onlookers will be keeping a watchful eye around these levels to see if whales begin to accumulate around this price as they previously had done at such low levels only a few months back.

Korean exchange lists SHIB

It’s also worth mentioning that Korbit has annouced that it would list Shiba Inu, making it the first cryptocurrency exchange in South Korea to do so, despite the country’s reputation for strict cryptocurrency rules.

Starting on Thursday, the cryptocurrency trading platform located in Seoul will let its customers to exchange the meme coin against the Korean won.

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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