Despite trading more than 50% below its all-time high, Shiba Inu appears to have a bright future ahead of it, with over one million token holders. Even though the memecoin is trading 50% below its all-time high, Shiba Inu (SHIB) has passed a major milestone by exceeding 1 million holders. After a tweet posted by the official Shiba Inu Twitter on late Nov. 25, news of the milestone and daily price rise has energized the Shiba Inu community.
The price of SHIB has risen 11.4 % in the last 24 hours since the project passed this milestone. SHIB is now selling at $0.00004237. According to Etherscan statistics, there are 1,002,021 SHIB holders. Despite the latest price gain, SHIB is still trading at a discount to its Oct. 28 high of $0.00008190, presumably owing to SHIB whales profiting.
Outlook on Shiba Inu Universe
In the Shib Inu universe, a lot is going on. On Nov. 23, SHIB with Tether (USDT)-paired perpetual contracts were listed for trading on Bitfinex Derivatives. Korbit, a South Korean exchange, has begun taking deposits, and SHIB should begin trading at 3 a.m. UTC. Korbit is the first Korean stock market to list Shiba Inu.
Dogecoin (DOGE) is now the only other memecoin that may be traded on the four major South Korean exchanges still legal: Upbit, Bithumb, Coinone, and Korbit. Korbit has the opportunity to offer new tokens that are paired with the Korean Won (KRW). That is because Korbit was one of the few exchanges in Korea to comply with new anti-money laundering standards by Sept. 24 fully.
DOGE is the sixth most traded cryptocurrency in South Korea in terms of trade volume. Since 2017, when ICO fever seized the country, cryptocurrencies have traded at a premium to global prices. DOGE has been extremely popular in Korea. It’s unclear whether the arrival of other memecoins, such as Shiba Inu, will spark a new round of speculation.
SHIB is one of the most widely used memecoins today, second only to DOGE. Both are in the top 15 cryptocurrencies in terms of market capitalization. SHIB, which was inspired by DOGE, has a slew of copycat currencies on other chains. There are now around 19 cryptos with the word ‘Shiba’ in their names.