Amidst the harsh market conditions, Shiba Inu manages to attract several SHIB holders even though the price seems to plummet. A Twitter account focusing on Shiba Inu and a wild supporter called MILKSHAKE (ShibaInuart) recently tweeted about this particular milestone.
Despite the fact that the market has not been favorable for the coin in recent days, the number of holders seems to have increased. According to the Twitter account, the number of SHIB holders surpasses 1,190,350+. MILKSHAKE cited that this was possible due to the community, ” their energy to continue building, and support for Shiba Inu.” “All this, while welcoming new #ShibArmy members to join with excitement.”
The rise in Shiba Inu holders indicates a rising interest
Even though the number of holders does not have a direct impact on the price of the coin, the rise in holders indicates a vision for the holders to stack Shiba Inu for the long term.
SHIB is currently trading at $0.00001007, 88% down from its all-time high of $0.00008845. According to the data from CoinGecko, SHIB lost 14% of its value in the last 7 days. This is a completely opposite direction for the coin as it displayed a 35% growth in the week prior.
The rise in the number of holders also indicates the rise in interest in the coin for the long term. According to the data from the whale tracker WhaleStats, SHIB has regained its title as the largest held crypto in an analysis conducted among the top 100 ETH whales.
According to the data, SHIB holds 16.22% ($511,224,801) of all the other tokens held by the whales. SHIB is followed by USDC which scoops up 15.61$ and USDT with a 15.1%. The market still seems to be in a prolonged bear market that many believe will continue.