The number of Shiba Inu (SHIB) holders exceeds 1M despite massive sales

Sun 28 Nov 2021 ▪ 12h46 ▪ 3 min read — by James Taylor

This week, Shiba Inu (SHIB) reached a milestone of 1 million token holders. This was made possible thanks to Korbit, a South Korean cryptocurrency exchange, listing SHIB on its website.  Thus, the meme coin has become available to more than 100,000 Korbit users.

SHIB passes the 1 million users milestone

Shiba Inu’s investor base has been rapidly growing since the meme coin hit an ATH in October. SHIB’s initial popularity was linked to being dubbed ‘DOGE killer’. In 2021, Shiba Inu became one of the most successful cryptocurrencies, bringing 900% of profits to investors in a few months. The digital asset was also listed by a few major cryptocurrency exchanges, strengthening users’ faith in its glittering future. And as trading volume on the exchanges grew, so did the number of SHIB holders.

On 26th November 2021, the number of Shiba Inu holders was reported to exceed 1 million by WhaleStats, a website tracking large movements of cryptocurrencies in the Ethereum network. According to the service, large holders of Ethereum have accumulated 48.1 trillion Shiba Inu tokens.

SHIB’s increases by 18%

On 25th November, SHIB hit $0.000044, an 18% price increase. The price increase occurred thanks to the token acquiring a record number of holders. At the moment, however, the token is trading at $0.00003795, while in October SHIB was in the $0.00008616 area. So, Shiba Inu’s current price is 55% lower than its ATH.

In November, several large purchases of Shiba Inu tokens were recorded. For instance, on 7th November, an anonymous cryptocurrency holder bought 20 trillion tokens worth more than £860,000 million. On 17th November, a crypto investor purchased more than £6.2 million worth of this meme coin. And on 22nd November, an anonymous investor spent around £27.6 million on SHIB.

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James Taylor

Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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