Cryptocurrency

Shiba Inu (SHIB) Retains Its Investor Base Despite Cryptocurrency Market Troubles

Shiba Inu (SHIB) has retained its investor base despite the troubles of cryptocurrency markets with no decline in numbers. Its popularity seems to grow with each new investor who joins its ranks.

According to data collected by CoinMarketcap, Shiba Inu has risen steadily over the course of this past month. There were 50,970 holders from the end of October up until November 20th. 

From the chart below, one can see that on October 22nd, there were 1,228,876 holders and an increase of 1,278,108 on November 19th, an increase of about 5% throughout the period.

Screenshot 20221121 101831
Source: CoinMarketcap

On a weekly bases, the growth that was seen from November 14th to November 19th was about 12,452. In addition, there is a gradual accumulation of almost 1,800 new members every day.

Screenshot 2022 11 21 221757
Source: CoinMarketcap

In accordance with the “Holders Statistics,” there are 14,645 Shiba Inus active addresses in the last 24 hours. Meanwhile, the top ten holders of the currency make up around 62.71%, while the top twenty owners own around 70.76%.

Shiba Inu (SHIB) Price Analysis

Shiba Inu (SHIB), the dog-themed cryptocurrency, is not in a favorable position right now as it is struggling to find the proper rhythm to recover and drive its price to greater heights.

Based on the most recent data from CoinMarketcap, SHIB is bucking to defy the adverse market trend as its price has fallen 4.04% to $0.000008661 over the past 24 hours. The last week has seen a decrease of 5.03%.

SHIBUSD 2022 11 21 07 54 45
Source: Tradingview

Finding a profitable and secure investment option is what many crypto investors are searching for. Only a few projects displayed these qualities consistently over the whole year.

Shiba Inu was unaffected by the cryptocurrency market slump brought on by FTX’s collapse, according to the blockchain security company Certik’s most recent weekly project spotlight

Time for another Weekly Project Spotlight!
With the crypto markets in chaos, have you been curious how meme coins have been faring?
Let’s check out $SHIB / @Shibtoken on CertiK’s Security Leaderboard! https://t.co/OD3kxuVEj9

In contrast to the broad optimism around cryptocurrencies and the SHIB network, Certik noted that the number of SHIB token holders has increased throughout this time.

The company stated that the Social Sentiment Index for SHIB was 79% based on its Skynet Social Analysis, a rating that represents the asset’s general favorability. In light of the present conditions dominating the crypto industry, SHIB’s score is among the best.

Related Reading | The True Potential Of Dogecoin: Insights From A Former Ethereum Researcher

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