Rancakmedia.com – Achievement record shiba inu coin by 72 percent and After a long wait, the number of Shiba Inu HODLers is getting closer to the total number of one million HODLers. Today the owners of this meme-based token have reached a milestone by breaking over 970,000 investors depositing their dollars into this crypto asset.
This milestone was reached in just four days, the Shiba Inu network gained 40,000 new registrations which was followed by quite a profitable week for SHIB in the cryptocurrency market. According to TradingView, most major cryptocurrencies go through correction cycles, in some cases resulting in large price drops.
It is estimated that Bitcoin has lost 5.4 percent of its value at the time of writing this article, while Ethereum has fallen by 3 percent. The Shiba Inu, on the other hand, shows a price increase of 12 percent midweek to weekend.
But then the crypto asset corrected with an 8 percent loss, leaving it in the neutral zone with nearly 0 percent growth from the previous week. While the market price of Shiba Inu has not yet reflected significant network growth, it is still a clear indicator that Shib's fundamental base still needs to be expanded.
Shiba Inu Achievement Record Factor
This is one of the most significant underlying factors in long-term pricing. A correction of over 100% in the growth rate of the Ethereum network following a month-long market strength, indicating the importance of the background growth.
At the time this article was written, the Shiba Inu was traded at 0.000051 dollars or roughly equivalent to Rp. 0.7619 for a daily price loss of 1.39 percent.
Even though the Shiba Inu cryptocurrency meme witnessed more price fluctuations in recent days, most token holders are still making profits. According to on-chain statistics, 72 percent of Shiba Inu wallet addresses are reported to have made a profit with a token price of IDR 0.7619.
Moreover, it is reported that only 17 percent of Shiba Inu holders did not benefit from their initial purchase of crypto assets. They are most likely the late investors who acquired the Shiba Inu when its value plunged from its recent all-time high.
Most novice investors are interested in buying cheap and having the opportunity to profit when the value rises again. The data reveals that the concentration of HODLers is close to 78 percent. However, Shiba Inu barons have been criticized for their strong effect on changes in token prices.
The increasing number of profitable wallet addresses stems from the growing popularity of the Shiba Inu over the last few months. In particular, the prospect of high profits from this crypto asset has also succeeded in bringing in more HODLers.
For example, between October 10 and November 8, 2021, the number of Shiba Inu holders grew 31 percent, from 706,808 to 926,684, for a growth of 111 percent over time. The Shiba Inu token has gained more users due to factors such as the low price per coin, making it easy to get involved, unlike other expensive assets like Bitcoin.
Shiba Inu Prices Increase
At the time of writing, the Shiba Inu's value had risen by about 4 percent in the previous 24 hours, a weekly increase of 6 percent. But SHIB has witnessed extreme volatility before, removing 7.26 billion USD from its total market value between November 4th and November 10th.