The meme-inspired cryptocurrency Shiba Inu ($SHIB) has added over 50,000 new holders on the blockchain even amid a cryptocurrency market rout triggered by the collapse of the popular cryptocurrency trading platform FTX.<\/p>\n
According to data from CoinMarketCap<\/a> and Etherscan<\/a>, the number of unique addresses holding Shiba Inu on the blockchain has grown from around 1.227 million a month ago to over .128 million at the time of writing. The figures show SHIB has been adding well over 1,500 new HODLers per day.<\/p>\n The number of SHIB holders has been growing even at a time in which the meme-inspired cryptocurrency\u2019s price has been plunging along with that of other leading digital currencies, affected by the collapse of FTX, which hit investor confidence. Over the past 30 days, SHIB is down over 17%.<\/p>\n Over the same period, BTC\u2019s price dropped roughly 17.7%, while the price of the second-largest cryptocurrency by market capitalization, Ethereum ($ETH), dropped 16.2%. The cryptocurrency space\u2019s total market capitalization has over the same period dropped by over $120 billion.<\/p>\n Notably, Shiba Inu investors have shown they aren\u2019t planning on selling en masse, as the median time that users on Coinbase hold onto the meme-inspired cryptocurrency before either selling it or moving it to an external address has surpassed the 200-day mark<\/a>.<\/p>\n –><\/p>\n –><\/p>\n The cryptocurrency exchange notes on its page that a long hold time \u201csignals an accumulation trend\u201d while a short hold time \u201cindicates increased movement of tokens.\u201d Shiba Inu\u2019s typical hold time on the exchange has notably kept on rising since the feature was added.<\/p>\n Also read:\u00a0<\/strong>Who Created Shiba Inu ($SHIB)?<\/a><\/strong><\/p>\n The exchange\u2019s price pages further show that Shiba Inu is the 11th\u00a0most popular cryptocurrency on the platform. Shiba Inu investors bet on the cryptocurrency\u2019s supply deflating through its burn schedule<\/a> for its price to increase, while adoption grows.<\/p>\n The meme-inspired cryptocurrency community has organized several methods to generate revenue and burn SHIB, including through an Amazon affiliates program and through music playlists the community listens to.<\/p>\n It\u2019s worth pointing out that Shiba Inu\u2019s activity on the Nasdaq-listed exchange represents a fraction of the meme-inspired cryptocurrency\u2019s total activity, as it\u2019s listed on other major cryptocurrency trading platforms including Binance.<\/p>\n Featured Image via\u00a0Pixabay<\/a><\/em><\/p>\n<\/p><\/div>\n![\"\"](\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2022\/11\/SHIBUSD_2022-11-22_10-47-20-1280x608.png\")
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