The number of Shiba Inu (SHIB) holders is getting closer to the long-awaited total of one million holders, breaking the 970,000 investors holding their funds in the meme-based token.
Improvement in Shiba Inu (SHIB) performance and number of holders
Crypto analyst Arman Shirinyan notes that in just four days, the Shiba Inu network received 40,000 new entries, following a relatively positive week for SHIB in the cryptocurrency market. Meanwhile, according to CoinMarketCap, most of the major cryptocurrencies have gone through a correction cycle that has in some cases led to significant price drops. Bitcoin lost 5.4% of its value, Ethereum lost 3% and OMG lost 24%.
cryptocoin.com As we reported, the Shiba Inu showed a 12% price increase in the middle of the week. But then, unfortunately, it corrected by losing 8%, placing it in neutral territory with almost 0% growth in the previous week. According to the analyst, while the market price of the Shiba Inu does not yet reflect strong network growth, it is still a strong signal that the underlying history of the SHIB is growing, which is a more important factor in the long run.
The analyst cites the example, stating that while Ethereum rallied in the market all month, its network growth rate followed a correction of almost 100%, indicating the importance of growth in the background for the coin. At press time, SHIB was trading at $0.00005179, down 1.13% daily, according to CoinMarketCap data.
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