Shiba Inu (SHIB) has reached a milestone in adoption, surpassing 1 million owners, despite the fact that memcoin is trading 50% below its all-time high.
News of this event and the daily price increases energized the Shiba Inu community as the official Shiba Inu Twitter account tweeted on late November 25th.
With the project reaching this 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, the number of SHIB holders is 1,002,021.
Despite the recent price increase, SHIB is still trading well below its October 28 peak of $28,000,890, possibly due to the gains made by SHIB whales.
There is a lot going on in the world of Shib Inu. Bitfinex Derivatives registered SHIB perpetual trading pairs with Tether (USDT) on November 23.
South Korean exchange Korbit accepted the deposits and SHIB was scheduled to start trading at 0300 UTC. This makes Korbit the first Korean exchange to list Shiba Inu.
Dogecoin (DOGE) is currently the only memcoin available for trading on four major exchanges still legally operating in South Korea: Upbit, Bithumb, Coinone, and Korbit.
Korbit has the option to list the new tokens alongside the Korean won (KRW) because it was one of the few exchanges in Korea to fully comply with the new anti-money laundering regulations by September 24.
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DOGE is the fifth most traded cryptocurrency in South Korea in terms of trading volume. DOGE has been very popular in Korea since 2017, when ICO fever gripped the country and cryptocurrency trading was above world prices – known as “Kim Chi Premium.” It remains to be seen if adding more memcoins like Shiba Inu could lead to another speculative frenzy.
SHIB is one of the most popular memcoins on the market today, right after DOGE. Both currencies are among the top 15 cryptocurrencies by market cap. Inspired by DOGE, SHIB itself has multiple copies of coins in multiple chains. In total, there are more than 19 cryptocurrencies, the name of which is “Shiba”.