The crypto market is still struggling to overpower the bearish trend that caused major capitulation over the past week. Although the bearish momentum led the vast majority of cryptocurrencies to trend in the negative, Shiba Inu (SHIB), the hottest dog-themed digital token, continues to attract and add thousands of new users.
Shiba Inu Amasses 15,000 New Holders within a Week
According to the data obtained from CoinMarketCap, Shiba Inu added about 15,000 new holders between the 10th of May and the 16th of May 2022.
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Based on the data, the number of Shiba Inu holders on the 10th of May was 1,146,848, while the number now stands at 1,161,805 on the 16th of May. And it’s expected to see a further increase as the interest in the meme token grows on a daily basis.
With 1,132,280 holders as of the 17th of April, SHIB has therefore added almost 30,000 new holders in the last month alone as more holders appear to be buying the asset as its price falls.
Shiba Inu (SHIB) in the Market
Price and market capitalization decreases for SHIB have been significant, and these drops have been even more noticeable recently as a result of the general adverse market behavior.
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To be more specific, its overall market worth on the 16th of May was $6.66 billion, which signifies a loss of $7.46 billion, or about 53% loss, compared to the $14.12 billion it had on the 16th of April. Currently, SHIB’s market capitalization places it in the 15th position in the crypto market.
At the time of writing, Shiba Inu is trading at $0.0000121, down 2.26% in the last 24 hours and 30% in the last 7 days, according to CoinMarketCap.
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