SHIB adds more than 40,000 new holders in 3 months as the number of titles exceeds 1.2 million

The popularity of Shiba Inu (SHIB) and other meme cryptocurrencies seem to have waned over the past few months in line with the prolonged slump markets. But the latest data shows that some investors are likely to bet on the token, with the number of addresses reaching a new stage.

As of September 12, the total number of SHIB holders is 1,221,112, an increase of 40,033 in three months. Notably, as of June 16, the number of SHIB holders reached 1,181,079, which is an increase of 3.38%, according to CoinMarketCap data.

The number of gray bearers. Source: CoinMarketCap

After declining in the number of titles in early August, the number has increased steadily, adding about 16,876 holders in the last month.

SHIB price maintains gains

The increasing number of SHIB holders is related to the price of the asset which has increased during the three months. At the time of writing, the token is trading at $0.000012, a growth of nearly 50% from $0.0000080 recorded on June 14.

SHIB three month price chart. Source: CoinMarketCap

The price rally was consistent with the token’s signals to initiate a recovery that started in July after the general market showed signs of stabilizing behind the bear market. Interestingly, SHIB continued to gain even as the rest of the markets witnessed heavy selling.

Moreover, decentralized financial assets (DeFi) attracted significant capital inflows to emerge as the most popular cryptocurrency on August 15. It is noteworthy that at some point SHIB lost its status to a fixed asset like Ethereum (ETH).

Sheep’s interest declined

Overall, however, the token has seen less interest overall, with data from Google Trends indicating that global searches for the keyword “Shiba Inu” over the past year fell to their lowest point in more than a year in July from This year.

At the same time, it can be said that stock holders are betting on SHIB to rise as the token continues to benefit from. For example, the coin has seen greater use as a method of payment, with entities such as Uber Eats and DoorDash accepted in the United States.

It is worth noting that after leading the 2021 rally for cryptocurrencies, SHIB’s fortunes have generally declined, with recent analysis suggesting other assets are taking over. As reported by Coinphony, Terra Classic (LUNC), the old chain of the now-collapsed Terra (LUNA) ecosystem, is gaining ground as the new favorite cryptocurrency from the meme.

warning: The content of this website should not be considered investment advice. Investments are speculative. When you invest, your capital is at risk.

The post SHIB adds over 40,000 new holders in 3 months as the Addresses Surpass 1.2M debuts on Coinphony.

Leave a Comment