Meme coins are not only a joke, but are also known for their annual earnings in excess of 1,000%. In this article, we take a look at some interesting statistics about a popular meme coin project that turned $1 into $32 million in just 1 year.
This meme coin has been valued millions of times from its price close to $0!
Despite the recent surge, the price of a Shiba Inu (SHIB) meme token has increased by 30 million times since last year. Comparing the price of a single SHIB on December 18, 2020 with the price on December 17, 2021, the former is over $0.0000032, while the latter is $0.000000000001. Therefore, $1 invested in SHIB a year ago is equivalent to $32 million today, despite the recent surge.
Last month, the meme token dropped from $0.00004933 to $0.00003203, meaning it lost 35.06% of its value. Over that time, the dog-themed cryptocurrency has lost nearly $10 billion in market cap and has dropped from $27.2 billion to $17.59 over the past 30 days. Thus, $ 9.61 billion was wiped from its market value.
Shiba Inu ownership hits record high
Despite wiping out 40% of its market capitalization within a month, the number of wallets SHIB has reached is breaking records. The number of Shiba Inu owners continued to increase throughout this period. Interestingly, the total number of unique addresses holding SHIB increased from 968,871 on November 16 to 1,058,900 on December 15. Notably, the token’s popularity has grown steadily over the past month, reaching one million token holders on November 25 due to this growth. As of December 16, that number continues to climb to 1,067,121, adding 8,221 in just one day.
SHIB and DOGE rivalry heats up
cryptocoin.com In light of the recent news that Dogecoin (DOGE) will now be accepted as a form of payment by Tesla, as we have mentioned, DOGE, the main competitor of the Shiba Inu, is attracting a lot of attention. However, SHIB has responded to Dogecoin with some new announcements of its own. Virtual Reality World company added SHIB to the list as a form of payment on December 15th. So customers can now pay with SHIB in VR World, thanks to the partnership with the payment tool BitPay.
- Moreover, UK-based cryptocurrency trading exchange IndoEx has announced that it will list the Shiba Inu on its platform.
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