With the growth of memecoins, Shiba Inu (SHIB), the "Dogecoin killer" has now hit over 900,000 holders in less than a week.
The cryptocurrency amassed 800,000 holders on October 28, 2021, adding 32,405 new holders in a single day, making addresses around 816,790. On November 3, the SHIB token reached over 902,151, according to Etherscan.io data.
Moreover, the crypto-based on Ethereum blockchain remains one of the most popularly used digital assets on the network over the past weeks.
In addition, interest in memecoins just keeps soaring as DOGE and SHIB have become the most popular cryptos that record the highest trading volume on India’s crypto exchanges like WazirX.
At writing time, Shiba Inu is trading at $0.00005456 on CoinMarketCap. It means the memecoin is down 18.98% in the last 24 hours with a market capitalization of $30.2 billion, losing its ranking to Dogecoin and USDC in terms of market cap.
However, Shiba Inu has had a successful rally season this year, so a pullback or a correction is expected at this point. But, as the market fires up, investors are tempted to buy SHIB.