Dogecoin-killer Shiba Inu hits 1 million holders, gets listed on South Korean exchange
- Shiba Inu emerges as a favorite token for whales, ranks fifth among the most held tokens on the Ethereum network.
- The memecoin is experiencing high volatility, influencing a spike in the number of token holders.
- Shytoshi Kusama, head of SHIB ecosystem projects, teases a reveal of Shiba Inu games.
- SHIB is now available for trading on Korbit, a South Korean crypto exchange.
Shiba Inu hit an important milestone of 1 million holders with a rise in the number of investors. The memecoin listed on a South Korean crypto exchange successfully despite strict regulatory requirements.
Shiba Inu crosses 1 million holders, prepares for price rally
Dogecoin-killer Shiba Inu has crossed the 1 million holders milestone earlier on November 25, 2021. The memecoin has emerged as one of the favorite ERC-20 tokens among Ethereum whales.
Such a proud, and amazing milestone for the #ShibArmy!$SHIB reaches 1,000,000 holders.
— Shib (@Shibtoken) November 25, 2021
Today we all cheer, and celebrate this great moment in SHIB's history.#1MFRIENDSHIBS #SHIB pic.twitter.com/T1UtMRdQ7r
During the Shiba Inu price dip, whales have consistently accumulated SHIB tokens. Alongside burn implementation, this reduces the circulating supply of Shiba Inu, triggering a rally in SHIB price.
Shiba Inu price has experienced high volatility over the past two weeks, dropping over 50% from its all-time high of $0.00008616. Despite the price drop, there is a spike in interest and accumulation by crypto investors.
@venturefounder, a cryptocurrency analyst, picked SHIB as an ideal asset for portfolio diversification. The analyst recently tweeted:
$SHIB offers another good case study. Buy during the quiet period of accumulation, sell when it reaches a new ATH again.
— venturefoundΞr (@venturefounder) November 24, 2021
I am beginning to look at #memecoins as a diversification strategy for any #crypto portfolio, alpha are too great to ignore. 1% allocation would do wonders. pic.twitter.com/6HXy90aGQW
Korbit listed Shiba Inu despite strict regulatory requirements on cryptocurrency exchanges in South Korea. The memecoin now has exposure to over 100,000 users on Korbit.
Shytoshi Kusama, head of Shiba Inu ecosystem projects, has teased the release of SHIB games. Kusama plans to announce further details in a blog post later today:
As promised, tomorrow I'll have a new Medium giving details about Shiba Inu Games & introduce the consultant/lead who will work directly with the AAA #gamestudio.
— Shytoshi Kusama™ (@ShytoshiKusama) November 25, 2021
I'm so grateful for YOU, @RyoshiResearch and the entire #SHIBARMY. #oshiverse #mobilegaming
FXStreet analysts have evaluated the SHIB price trend and predicted that the memecoin faces a resistance trifecta at $0.0000525.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
