SHIB reached an adoption milestone by surpassing 1 million holders
With over one 1 million token holders, Shiba Inu looks set for incredible things ahead, regardless of trading more than 50
News of the milestone and daily price increase has energized the Shiba Inu community from the official Shiba Inu Twitter account tweeted a shoutout late on November 25.
Such a proud, and amazing milestone for the #ShibArmy!$SHIB reaches 1,000,000 holders.— Shib (@Shibtoken) November 25, 2021
Today we all cheer, and celebrate this great moment in SHIB's history.#1MFRIENDSHIBS #SHIB pic.twitter.com/T1UtMRdQ7r
Since the project reached this milestone, the price has jumped up 11.4% over the past 24 hours, with SHIB now trading at $0.00004237 according to Coingecko. There are 1,002,021 SHIB holders according to data from Etherscan.
Despite the recent price increase, the SHIB is still trading below its Oct.28 peak of $0.00008190, possibly due to profits made by SHIB whales.
There's plenty going on in the SHIB Inu world. Bitfinex Derivatives listed SHIB paired perpetual contracts with Tether(USDT) for trading on November 23.
The South Korean exchange Korbit has been accepting deposits and SHIB was scheduled to start trading at 3 AM UTC. This makes Korbit the first Korean exchange to List SHIBA Inu.
Dogecoin (DOGE) is currently the only other meme coin available to trade on the four major exchanges that still operate legally in South Korea: Upbit, Coinone, and Bithumb.
Korbit has the opportunity to list new tokens associated with the Korean Won (KRW) as it was one of the few exchanges in Korea to come into full compliance by Sept 24 with new rules designed to combat money laundering.
DOGE is South Korea's fifth-most traded crypto by trade volume. DOGE has been very popular in Korea since 2017 when the country was gripped by ICO fever and cryptocurrencies trading at a higher price than global prices known as the "Kim Chi Premium." It remains to be seen whether the addition of more meme coins such as Shiba Inu could lead to another speculative frenzy.
SHIB is one of the most popular meme coins on the market today, behind only DOGE. Both are among the top 15 cryptocurrencies by market cap. Inspired by DOGE, SHIB itself has many copycat coins across different chains. In total, there are over 19 cryptos with "SHIBA" in their names.