The $ 1 investment in SHIB a year ago will bring in $ 32 million despite the current recession
Despite recent market volatility, the price of the Shiba Inu (SHIB) token meme has increased more than 30 million times over the past year.
Comparing prices on December 18, 2020 and December 18, 2021, SHIB is now trading near $ 0.000032 versus $ 0.00000000001. So if you had invested $ 1 in SHIB a year ago, despite the recent volatility, you could have raked in $ 32 million today.
1 Year SHIB Price Chart | Source: CoinMarketCap
Last month the SHIB fell from $ 0.0004933 to $ 0.00003203, or 35.06% of its value. At this point, the Dog Token has lost nearly $ 10 billion in market cap in the past 30 days, from $ 27.2 billion to $ 17.39.
1 Month SHIB Price Chart | Source: Tradingview
The number of SHIB-Hodler has reached a record
Despite a 40% drop in market capitalization in one month, SHIB still has a record number of owners.
The number of SHIB owners continued to grow during this time. Interestingly, the total number of unique addresses holding the asset increased from 968,871 on November 16 to 1,058,900 on December 15.
In particular, the token’s popularity has steadily increased over the past month, reaching 1 million holders on November 25th thanks to that growth. By December 16, that number continued to climb to 1,067,121, adding 8,221 in just one day.
The competition between SHIB and DOGE is heating up
Due to the recent news that Tesla will accept DOGE as a form of payment, as reported by Bitcoin Magazine, SHIB’s biggest rival is diverting a lot of attention from the coin meme.
Tesla CEO Elon Musk said in a tweet that the company would accept payments in DOGE for some “goods”. Accordingly, DOGE was injected with nearly $ 4 billion in just 6 minutes, making it the most actively traded token on Binance Smart Chain.
However, SHIB also responded with a number of new announcements. Shiba Inu is expanding its territory as more and more sellers agree to accept the meme coin as payment for their products.
In particular, the largest virtual reality club in the US Virtual Reality World has opted for SHIB as a means of payment, which means that customers can now pay with SHIB in the VR World through a partnership with the BitPay Payment Aggregator company.
In addition, the IndoEx exchange is based in Great Britain to explain will list SHIB on its platform. However, IndoEx has not given an exact time, only “listing is coming”.
Meanwhile, Bitstamp confirmed that SHIB listing will go live in 2022. Bitstamp, Europe’s largest exchange, announced that Shiba Inu will be listed on the platform in December 2021. However, the exchange admits that it is experiencing technical difficulties during the SHIB listing process and the team is trying to resolve the issues.
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According to Finbold