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Shiba Inu Sets New Community Milestone: Details

Fri, 11/11/2022 - 10:24
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Tomiwabold Olajide
Shiba Inu has recorded growth in recent months
Shiba Inu Sets New Community Milestone: Details
Cover image via stock.adobe.com

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The official SHIB Twitter account has reached a new milestone of 3.6 million followers. Shiba Inu has seen growth in recent months, adding nearly 200,000 followers in the space of three months.

In August this year, Shiba Inu for the first time surpassed Dogecoin in its number of followers on Twitter. At the time, the official SHIB Twitter account had 3.44 million followers, while Dogecoin had 3.43 million. The official Twitter account tweeted out a message of support for the "best community ever" in celebration of the milestone.

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Shiba Inu Flips Dogecoin on Twitter; Is Market Cap Next?

Now, this gap remains as Shiba Inu has 3.6 million followers on Twitter, while Dogecoin has 3.5 million followers at the moment.

Shib sets new high in holder count

Also, Shiba Inu's holder count continues to grow. The total number of SHIB holders has risen to a new high of 1,243,804, according to WhaleStats. The increase in holder count might suggest long-term interest in an asset, though it may not immediately impact the price.

According to IntoTheBlock data, SHIB is also setting a new record for its long-term holders, or "hodlers." Long-term holders, or "hodlers," now account for 50% of Shiba Inu owners, surpassing midterm speculators and short-term traders, who account for 46% and 4%, respectively.

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SHIB Burn Rate Up 5,800% as Shiba Inu Sets Key Milestone

In the past 24 hours, there have been a total of 43,217,038 SHIB tokens burned. The burn rate is also up 656% within this timeframe, per the Shib Burn website.

Shiba Inu fell to lows of $0.000082 on Nov. 9. A sharp rebound on Nov. 10 brought SHIB to intraday highs of $0.0000104.

At the time of publication, bears are threatening to bring the SHIB price below $0.000010 once more. SHIB presently trades up 1.91% at $0.0000101, according to CoinMarketCap data, and ranks as the 14th largest cryptocurrency.

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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.