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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Shiba Inu Welcomes 10,000 New Holders, Can SHIB Keep Up The Momentum?

Best Owie
Best Owie
1 year ago
2 mins read
Shiba Inu (SHIB) price

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Despite the market downturn, Shiba Inu (SHIB) is still seeing growth in terms of its holder base. The meme coin maintains its position as one of the most popular cryptocurrencies as its total holder count has now crossed 1.26 million.

10,000 New Shiba Inu Holders Added

In a time when cryptocurrencies across the space are marking a decline in support, Shiba Inu has added over 10,000 new holders in the span of two weeks. This saw the total SHIB holders cross into the 1.26 million territory, marking more growth for the meme coin. In the last 24 hours alone, the number is up by 0.033%, according to data from Etherscan.

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The meme coin also recently marked another milestone after it crossed more than 1.8 million watchlists on Coinmarketcap. The growth comes even as the price of the digital asset suffers multiple setbacks, drastically dragging down the profit margins for investors.

Binance, the largest crypto exchange in the world by trading volume, recently released the data for the most-watched cryptocurrencies on the platform, and Shiba Inu emerged in the top three; alongside market leaders Bitcoin and Ethereum.

Shiba Inu price chart from TradingView.com

SHIB price struggles at $0.000008 | Source: SHIBUSD on TradingView.com

Will SHIB Price Remain Stagnant?

SHIB’s price has been quite unresponsive to all of the new milestones being hit. The holder base had been consistently climbing over the last two months but the price of SHIB has not reacted positively in any way. Instead, developments on Shiba Inu seem to be disconnected from the price performance of the native token.

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With no meaningful movement following all of these, then it is possible that the meme coin will not be seeing any sort of recovery before the year runs out. It continues to trend just above $0.000008 as the bear market rages on.

It is important to keep in mind that the total number of active Shiba Inu addresses currently sits below 5% of its total addresses. This means that there is a decreased activity for the digital asset, which could explain why there have been no positive reactions to the milestones. 

The cryptocurrency has also fallen out of favor with large Ethereum whales who no longer hold a significant amount of the cryptocurrency on their balances. This has accelerated the bear case for the meme coin. If momentum does not pick up, then it is possible that SHIB could see the lower side of $0.000007 before the year is over. 

Featured image from Crypto News, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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