Shiba Inu attracts 15,000 new holders in a week despite the bearish market 

Shiba Inu

The crypto market is currently in a bearish trend caused by the Luna-UST fiasco and this has led to massive dips. However, memecoin, Shiba Inu (SHIB) continues to rise above this and attract new users.  

15,000 new holders join Shiba Inu 

According to the latest data obtained from crypto price aggregator CoinMarketCap, Shiba Inu has experienced the addition of 15,000 new wallets. This development occurred between the 10th of May and the 16th of May 2022. 

Based on the information, the number of Shiba Inu holders has risen from 1,146,848 on May 10, to 1,161,805 on the 16th of May. This exponential increase during this period can be attributed to the developments within the Shib metaverse. 

The crypto market fall could have also triggered more users looking to purchase SHIB at a low price to sell in the future for profits. In the larger picture, SHIB has added almost 30,000 new holders in the past 30 days. 

This development bodes well for the memecoin that has reinvented itself into an ecosystem of products in recent months. 

👉 Related – Shiba Inu Decentralized Exchange ShibaSwap is ranked second as the most secure platform by CertiK

Shiba Inu Market analysis

Shiba like most cryptocurrencies has experienced a major drop in its price and marketcap. Compared to a month ago, its marketcap has reduced by 53% from $14.12 billion to $6.6 billion. 

Despite this dip, Shiba still remains 15th on the coin rankings. At the time of publication, Shiba Inu is trading at $0.0000121 down 3% in the last 24 hours and 30%  in the past 7 days according to CoinMarketCap. 

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