Shiba Inu (SHIB) hit the adoption milestone by surpassing the 1 million owner mark – even though the Memecoin is 50% below its all-time high.
News of the milestone and the daily price hike have kept the Shiba Inu community energized since the official Shiba Inu Twitter account tweeted a thank you at the end of November 25th.
– Shib (@Shibtoken) November 25, 2021
Since the project hit this milestone, its price has increased 11.4% in the past 24 hours, with SHIB currently trading at $ 0.00004237, according to Coingecko. According to data from Etherscan, there are 1,002,021 SHIB holders.
Despite the recent uptrend, SHIB is still trading below its October 28 high of $ 0.00008190, possibly due to profit-taking by the SHIB whales.
There is a lot going on in the Shib Inu world. Bitfinex derivatives listed SHIB with perpetual contracts paired with Tether (USDT) for trading on November.
And korean exchange Korbit accepted the deposit and SHIB was supposed to start trading at 3am UTC. This makes Korbit the first Korean exchange that Shiba Inu has listed.
Dogecoin (DOGE) is currently the only other memecoin available for trading on the four major exchanges that are still legally operating in South Korea: Upbit, Bithumb, Coinone, and Korbit.
Korbit has the option to list new tokens related to Korea Gained (KRW) as it is one of the few exchanges in Korea to be fully compliant on September 24th, newly designed to combat money laundering.
See Also: Shiba Inu Continues to Decline: Data shows retail interest is falling as SHIB is down 60% in 4 weeks
DOGE is South Korea’s fifth most traded cryptocurrency by trading volume. DOGE has been hugely popular in South Korea since 2017, when the country was hit by an ICO craze and cryptocurrencies were traded at a premium to global prices – known as “Kim Chi Premium”. It remains to be seen whether the addition of more memecoins like Shiba Inu can spark another wave of wild speculation.
SHIB is one of the most popular memecoins on the market today, right behind DOGE. Both are among the top 15 cryptocurrencies by market capitalization. Inspired by DOGE, SHIB itself has several coins that replicate across several chains. In total there are more than 19 cryptocurrencies with ‘Shiba’ in their name.