Shiba Inu token SHIB crosses record 970K investors as the coin moves towards the 1M mark. Many investors and analysts anticipated this record-breaking performance. Moreover, the meme-inspired crypto has seen a positive week in the market, with 40,000 new entries in just four days.
During the last week, SHIB showed a substantial increment but then dipped, losing almost 8%. This drop brought the coin into the neutral zone. Despite the volatility of its price, Shiba Inu is seeing new users in an increased number. It shows that the coin has strong fundamentals which can be beneficial for the long run.
As mentioned, Shiba Inu is going through high price volatility. Still, most of the token holders are in profit. A Blockchain Intelligence platform, IntoTheBlock, shows that over 72% of token holders are profiting from the coin. It indicates that only 17% of the token holders are not making a profit. They can be the ones who bought the coin when its value dropped from ATH.
At the time of writing, Shiba Inu is trading at, $0.00005276. Meanwhile, the heightened volatility of the coin contributed to the loss of $7.26 B from its market cap from Nov. 4 – Nov. 10. A crypto whale made four transactions on en trillion (10,000,000,100,000) SHIB to four wallets. It is safe to assume that this caused the trigger of the coin’s volatility. At that time, a single transaction was valued at $586 million.
