The Number of Shiba Inu Holders Exceeded 1 Million for the First Time

In November 2021, several large purchases of the “meme” crypto were recorded. At the beginning of the month, the crypto investor acquired 20 trillion Shiba Inu tokens for $1.15 billion.

New Shiba Inu record

The number of crypto investors who own the “meme” token Shiba Inu exceeded 1 million for the first time, the WhaleStats service, which tracks large movements of cryptocurrency in the Ethereum network, reported. According to the service, large Ethereum holders have accumulated 48.1 trillion Shiba Inu tokens (about $1.8 billion, considering the current exchange rate on November 25).

In November, several large transactions for the purchase of Shiba Inu tokens were recorded. On November 7, an unknown large crypto holder bought 20 trillion tokens worth about $1.15 billion. On November 17, a crypto investor purchased a “meme” cryptocurrency for $8.3 million. Finally, on November 22, an unknown person bought Shiba Inu for $36.8 million.

Shiba Inu is trading at $0.00004594 on November 25 (a decrease of about 53% from an all-time high), and its capitalization is $22.4 billion, according to CoinGecko. At the end of last month, the altcoin set an all-time high above $0.000086. In October, the “meme” token rose in price by more than 1000%.

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The Shiba Inu token is called the “Dogecoin killer” by its creators. The project’s website says that its main task is to surpass Elon Musk’s favorite cryptocurrency in terms of capitalization (Dogecoin’s capitalization as of November 25 is $ 29.3 billion). The Shiba Inu developers claim to have been inspired by the example of the Reddit community WallStreetBets, whose members were able to “accelerate” the price of shares of GameStop, AMC, and several other companies.

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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.

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