Header Ads Widget

POST ADS1

Despite the record number of holders, SHIB reduced its market value by 40% in a month

Despite the record number of holders, SHIB reduced its market value by 40% in a month

Despite a record number of holders, decentralized meme-token Shiba Inu (SHIB) fell in market capitalization by more than 40% last month. Compared to a market capitalization of $29.75 billion as of Nov. 15, the market capitalization as of Dec. 15 is $17.81 billion, suggesting that the popular dog meme token lost $11.94 billion, or 40.13%, of its market value in just one month, according to Finbold.

The numbers become even more impressive when you consider that the number of SHIB holders continued to grow during that time. Interestingly, the total number of unique addresses holding assets on the network increased from 968,871 on Nov. 16 to 1,058,900 holders as of Dec. 15. Notably, the popularity of the token has gradually increased over the past month, reaching one million token holders on Nov. 25 due to this growth. After being listed on Coinbase, the token received inflows of $870 billion within 24 hours of its debut on the cryptocurrency exchange. While the asset experienced another boost after listing on Kraken, which means that Shiba Inu is now listed on all 10 major cryptocurrency exchanges. However, even though the number of holders is growing, primarily due to greater availability for purchase, as mentioned above, the price has dropped significantly from its historical high, as another pump looks unlikely at the moment.

Post a Comment

0 Comments

POST ADS2