Shiba Inu is a decentralized meme token that evolved into a vibrant ecosystem. The meme token is built on the Ethereum blockchain and was created anonymously by an individual known as Ryoshi in 2020. Since its inception, Shiba Inu has raised in value significantly. This has resulted in more than 30,000 new holders of the crypto in just over two weeks.
On 21 September 2021, 668,810 people held Shiba Inu. At present, there are 699,971 holders of the meme token, representing one of the biggest increases when it comes to crypto investments. This rapid growth came at a time when Elon Musk uploaded a photo of his dog, Floki, a Shiba Inu. Unsurprisingly, it seems that Elon Musk can influence the crypto market at ease. Furthermore, despite the popular notion that Tesla CEO may have accidentally artificially boosted the price, blockchain data suggests that the seemingly illogical rise was prompted by movement patterns by SHIB “whales,” who own significant amounts of SHIB.
As per statistics from blockchain analytics firm Santiment, the frequency of SHIB transactions worth more than $1 million has increased drastically along with the market rise. Nevertheless, it is worth noting that Shiba's profit-making potential is still limited. As a result, there has not been a lot of profit-takings since smaller profit-taking spikes are built on bigger price peaks.
The increase in popularity of the crypto also resulted in more followers for the Shiba Inu Twitter account, in particular 1 million followers. How about the price? According to CoinMarketCap figures, the token is presently trading at $0.000002283, down 27.90 per cent in 24 hours and up 212.27 per cent in the past week, with a market value of $9 billion. Having a market value of $2.86 billion, Shiba Inu is now worth more than three times what it was at the end of September.
The future of Shiba Inu seems bright, so why not become the next investor in crypto. On our site, you can find a wide variety of perfectly licensed Shiba Inu Casinos that have prepared fantastic casino opportunities for you. These will provide you with an extraordinary casino experience, so do not waste your time and pave your way to the big winnings. As usual, we strongly encourage you to play responsibly and we wish you a stroke of good luck and some life-changing winnings.