SHIB Lost About 55,000 Owners In The Last Ten Days as The Coin’s Enthusiasm Fades.

SHIB holders had been steadily increasing over the previous three months, but in only 10 days, the decentralized cryptocurrency lost around 55,000 users.

According to CoinMarketCap statistics, SHIB’s meme token holders have decreased by 54,671 in the last ten days, from 1,198,789 on March 15 to just 1,144,118 on March 25.

The total number of unique addresses holding the dog meme currency on the network has been continuously climbing until March 17, when it dropped by 32,832 holders in a single day.

The most recent reduction is the ninth in a row in which the number of holders has decreased as interest in the asset appears to be waning.

The number of on-chain transactions using the Shiba Inu coin has decreased for the fourth month in a row, according to data released earlier in March. This figure fell by 9.27% from January to February 2022, from 283,268 to 257,003.

The Bored Ape Yacht Club, a collection of non-fungible tokens (NFTs), announced the launch of ApeCoin (APE), a new cryptocurrency token, on March 17, generating a lot of buzz in the cryptocurrency market.

When APE was originally released, its value soared to almost $40 before plummeting to around $8.50 just a few months later. The token, on the other hand, made a rapid rebound, with its value soaring by about 70% in only 24 hours.

Given the same time spans, it’s possible that the excitement and buzz around the current popular animal-themed cryptocurrency changed, leading to a switch from SHIB to ApeCoin.

The quantity of on-chain transactions for the digital asset has been on the decline, as previously stated.

Furthermore, Google data reveals that interest in the search term “Buy Shiba Inu coin” has been dwindling recently, with the Google Trends score going from 100 on November 30, 2021, to only three on February 28, suggesting a staggering 80% decline in interest during that time.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

CoinCu News