SHIB Holders Break Huge Record In July Amid Crypto Volatility

Even as the cryptocurrency market stares at instability amid adverse macroeconomic trends, certain meme coins continue to record regular growth. In the past one month, SHIB holders created new record in a key metric despite headwinds in the crypto space. This growth is despite frequent fluctuations in SHIB price, which remained largely unchanged at $0.000011 when compared in last 30 days.

New SHIB Holders Growing Consistently

According to data from CoinMarketCap, the number of new SHIB holders grew consistently in the recent weeks. The total number of unique addresses holding SHIB were under 1.190 million at the beginning of July. The number grew to around 1.213 million currently, showing significant growth in July. Interestingly, the number of new unique SHIB addresses grew almost everyday since June 29. As of July 25, the current number of SHIB holders stands at 1,212,692.

In the same period, SHIB price realized a low of 0.0000096 and a high of 0.00001297 on July 20. As of writing, Shiba Inu price stands at $0.00001124, down 3.88% in the last 24 hours, as per CoinMarketCap. On a week on week basis, SHIB token’s price dropped by 8.30%. Recently, it was observed that the SHIB emerged to be the biggest token held by the top 2000 ETH whales.

Shiba Inu Availability On The Rise Globally

Last week, Philippines based crypto exchange Coins.ph listed SHIB. The crypto exchange has been operating since 2014 and has a 10 million customer base. This is a big development considering that the exchange is regulated by the central bank of the Philippines. The Bangko Sentral ng Pilipinas recognized Coins.ph as a licensed virtual currency exchange, electronic money issuer, and remittance and transfer agent. The exchange claims that the licenses allow it to provide buying and selling of crypto assets. “This means we can provide simple, safe, and secure ways to make digital payments, as well as cryptocurrency buy and sell services.”

Recent data from WhaleStats shows that SHIB was among the tokens which were trending in recent times. Also, the Shiba Inu featured in the list of the most purchased tokens by the biggest Ethereum whales.

Anvesh reports major developments around crypto adoption and price analysis. Having been associated with the industry since 2016, Anvesh is a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.