Is it possible that 1 million Shiba Inu owners are wrong?
Shiba Inu has more than 1 million token holders, despite trading below half of its all-time high.
Memecoin Shiba Inu (SHIB) has hit a milestone of one million holders, even though it is selling at a 50 percent discount to its peak.
Shiba Inu fans have been buzzing since the Shiba Inu Twitter account congratulated them on the milestone and daily price rises late Thursday.
The price of SHIB has risen 11.4 percent in the last 24 hours, with the token currently trading at $0.00004237 on CoinGecko. SHIB holdings total 1,002,021 according to Etherscan statistics.
According to CoinMarketCap, on Oct. 28, SHIB traded at $0.00008190, which is still significantly below its current price of $0.00008100.
A lot is happening in Shiba Inu circles. Tuesday, Bitfinex Derivatives added SHIB with Tether (USDT)-paired contracts to its trading platform for futures trading.
SHIB was set to begin trading at 3 a.m. UTC on Korbit, a South Korean cryptocurrency exchange. The Korbit exchange is the first in Korea to list Shiba Inus.
Currently, Dogecoin (DOGE) is the only memecoin that can be traded on South Korea’s top four exchanges – Upbit, Bithumb, Coinone, and Korbit.
By Sept. 24, Korbit was one of a handful of Korean exchanges that had fully complied with new anti-money laundering regulations. This gives Korbit the opportunity to list tokens that may be exchanged for the Korean won.
Continued slump: Shiba Inu The SHIB has dropped 60% in the last four weeks, indicating a decrease in retail interest.
South Korea’s 5th most traded crypto, DOGE, is based on volume of trading. As a result of the “Kim Chi Premium,” DOGE has become a popular cryptocurrency in South Korea, when ICO fever overtook the country in 2017 and cryptocurrencies traded at a premium relative to worldwide pricing. If more memecoins like Shiba Inu are added to the market, it is possible that another speculative frenzy could ensue due to this.
Second only to DOGE, SHIB is the most popular memecoin on the market now. In terms of market capitalization, both are in the top 15. A number of SHIB’s coins have been modeled after DOGE’s. There are a total of 19 cryptos with the name “Shiba” in it.