Shiba Inu (SHIB) has reached a milestone of acceptance by over 1 million owners – despite the fact that memcoin is trading 50% below its all-time high.
News of this significant event and daily price hikes gave energy to the Shiba Inu community as the Shiba Inu’s official Twitter account tweeted a shout late Thursday night.
Since the project reached that milestone, the price has jumped 11.4% in the past 24 hours, with SHIB now trading at $ 0.0004237, according to CoinGecko. According to Etherscan, 1,002,021 have SHIB holders.
Despite the recent price hike, SHIB is still trading well below its October 28 peak of $ 28,000,890, possibly due to SHIB whale earnings.
There is a lot going on in the Shiba Inu world. Bitfinex derivatives were listed on the SHIB on Tuesday with perpetual trading contracts on Tether (USDT).
The deposits were accepted by the South Korean exchange Korbit, and the SHIB was to begin trading at 0300 UTC. This makes Korbit the first Korean exchange to list a Shiba Inu.
Dogecoin (DOGE) is currently the only memcoin available for trading on the four major legally operating exchanges in South Korea – Upbit, Bithumb, Coinone, and Korbit.
Korbit has the option to list the new tokens alongside the Korean Won, as it was one of the few exchanges in Korea to fully comply with the new regulations designed to combat money laundering by September 24th.
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DOGE is the fifth largest cryptocurrency in South Korea by trading volume. DOGE has been very popular in Korea since 2017, when the country was taken over by the first coin offering fever and cryptocurrency trading at a premium over world prices, known as “Kim Chi Premium”. It remains to be seen if the addition of additional memcoins like Shiba Inu could lead to yet another speculative frenzy.
SHIB is one of the most popular memcoins on the market today, right after DOGE. Both are in the top 15 cryptocurrencies by market capitalization. Inspired by DOGE, SHIB owns multiple copies of coins across many chains. In total, there are more than 19 cryptocurrencies, the name of which contains the word “Shiba”.