Shiba Inu (SHIB) Adds 20,000 Owners in One Month Despite Market Stagnation

Despite the downtrend surrounding the cryptocurrency market as a whole and the fact that Shiba Inu (SHIB) is now trading well below its all-time high reached in October 2021, it appears that interest in the dog meme token is growing.

In fact, over the course of one month, SHIB attracted more than 20,000 new investors with interest returns on its decentralized finance (DeFi) assets, according to Finbold data retrieved from CoinMarketCap on July 11.

According to this data, SHIB had 1,178,157 meme token holders on June 12, while as of July 11, there were 1,199,539 meme token holders, which represents an overall growth of 21,382 over this time frame.

SHIB overcomes previous losses

Between March 16 and March 17, the number of unique addresses on the network that held dog meme coins experienced a massive drop, losing 32,832 holders from 1,199453 to 11,6621 in just one day. Prior to that, the total number of unique titles was in a consistent upward pattern.

A significant loss was also recorded in early June, with the total number of SHIB holders dropping from 1,198,222 on June 2 to 1,176,715 on June 8, resulting in a loss of 21,507 pregnant women in less than one week after a sharp increase. But it is short term.

Now SHIB appears to be bringing back its holders, as its latest number is outpacing both March 16 and June 2. In the past three months, the meme code has added nearly 70,000 holders, increasing from 1,129,628 on April 13 to the current value.

Adopt a Shiba Inu to grow

At the same time, the token is becoming more and more adopted as a payment method as Uber Eats and DoorDash have started accepting it in the US, along with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Bitcoin Cash (BCH). ) and the popular stablecoin on June 20, after which the number of SHIB holders continued to grow over the following week.

Under the current situation, the dog coin is trading at $0.00001106, a drop of 2.39% on the day, but a gain of 7.69% over the previous week, according to CoinMarketCap data.

Disclaimer: The content on this website should not be considered investment advice. Investing is speculation. When investing, your capital is at risk.