Shiba Inu sees massive price surge after the 1 million SHIB holders milestone and hit a price of $0.000044 today marking an 18% price increase in the past day as we can see more in our latest altcoin news.
Meme coin Shiba Inu sees massive price surge after reaching a new milestone of one million SHIB holders that were announced by the official Twitter account earlier today:
“Such a proud, and amazing milestone for the ShibArmy. SHIB reaches one million holders. Today we all cheer, and celebrate this great moment in SHIB’s history.”
SHIB 24-hour Price Chart (Source: coingecko)
Aside from the one million holder milestone, it has been quite an eventful month for the SHIB cryptocurrency. In the past few weeks, it made a few headlines as well and one example was when Gemini announced that it was adding the DOGE rival. SHIB joined Gemini alongside other notable cryptocurrencies like the AUDIO token, USDC, and SuperRare’s RARE token. In the month before the listing, SHIB increased immensely as well and reached an all-time high of $0.00008616 in October. Also, SHIB briefly overtook DOGE as the flagship meem cryptocurrency on two occasions in terms of overall market cap. Before being listed on Gemini, Shib was listed on Coinbase back in September. Meme coins attracted quite the regulatory scrutiny in the UK with ads for other meme coins like Floki Inu sparking a huge wave of criticism for running irresponsible ads on public transport in London.
As recently reported, Whoever thinks that meme coins are useless should have to revise their expectations. A recent study shows that in the United States, people are getting even more interested in dog-themed meme coins like SHIB and DOGE rather than other serious financial projects that claim to be the next financial revolution. Although Bitcoin and Ether occupy more than 60% of the total market cap of all crypto assets, SHIB And DOGE were the most searched coins in November in the US as they won the hearts of Americans.
SHIB continues to suffer dips Source SHIBUSD on TradingView.com
The market for meme coins emerged as a sort of social phenomenon during the coronavirus pandemic and crypto-assets like Shiba Inu, Doge, FLoki Inu benefited from the pumps on social media despite not having strong fundamentals. Dogecoin and Shiba grew so much that they conquered a spot in the top 10 crypto assets with a bigger market cap and now DOGE is on the 10th spot while Shiba is on the 12th.