Meme Coin Shiba Inu (SHIB) Breaks 1 Million Holders Milestone
Meme coin Shiba Inu has been in the news after an impressive rise to top 10 crypto earlier this year, and its community has grown impressively in the past few months and support has not faltered.
Despite the meme coin has recently suffered in terms of price, along with the rest of the market, it still continues to thrive in other ways. Shiba Inu has proven its pack leader position, as it has now surpassed the one million holders milestone.
Shiba Inu’s investor base had been rapidly growing since the altcoin had posted new all-time highs in October. Its initial fame had come from being touted as the “Dogecoin killer” and as the latter had suffered, Shiba Inu had taken full advantage to live up to this name. It became one of the highest performing cryptocurrencies in 2021 after returning 900% gains for investors in a matter of months.
The digital asset had secured listings on major crypto exchanges and this helped to boost faith in the future of the coin. As trading volume grew on these exchanges, so had the number of holders.
One prominent development that had investors clamoring to own a piece of the digital asset was an investor that had turned $8,000 to $5.7 billion. The investor had bought $8,000 worth of the cryptocurrency in 2020 and by October 2021, the wallet held billions of dollars. This had further helped cement the asset’s credibility as a viable investment option.
SHIB has also dominated social media conversations since the digital asset found its way into the limelight a couple of months ago. Twitter had been lit abuzz with talk of SHIB to the point that it had overtaken top cryptocurrencies such as Bitcoin and Ethereum in terms of mention.
Google searches for Shiba Inu had also surged dramatically during this time with reports showing that it was among the top searches for 30 states in the US.
