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Shiba Inu Holder Count Hits New Highs Amid Price Dip

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Fri, 01/21/2022 - 11:37
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Tomiwabold Olajide
Number of Shiba Inu holders hits new highs despite price drop
Shiba Inu Holder Count Hits New Highs Amid Price Dip
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As reported by WhaleStats, the number of Shiba Inu holders reached a whopping 1,150,173, hitting new record highs. The cryptocurrency market succumbed to widespread selling pressure as Bitcoin and altcoins pared off the gains accumulated in the prior day. Shiba Inu's price is trading down 7.45% in the last 24 hours at a present price of $0.0000258, according to CoinMarketCap data.

On Jan. 18, U.Today reported the growth of SHIB holders at 1,145,212. The recent increment suggests a growing community, a healthy sign. Although the growth in holders might not necessarily impact the price in the near term, it may signify interest in a token over time.

SHIB, however, continues to be a popular token with Ethereum whales. According to WhaleStats, the top 1,000 ETH whales own 51,383,815,397,632 SHIB, or $1,461,726,189 worth.

Shiba Inu price

Shiba Inu's price is trading around $0.0000258 in line with crypto market declines. According to CoinMarketCap data, SHIB currently ranks 14th largest in market capitalization. Despite the price action, the Shiba Inu community eagerly awaits the next big item for its ecosystem.

U.Today reported on Shiba Inu developer Shytoshi Kusama passing a ''big idea'' to the Shiba Inu Core Team that might shake the crypto space if agreed upon. Steven Cooper, CEO of Bigger Entertainment, said that Shiba Inu developers are busy creating new mechanisms to burn SHIB and will introduce them later on. This is expected to have a positive impact on the SHIB price in the medium term.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.