SHIB users exceeded 1 million

Shiba Inucoin (SHIB) adoption has reached milestone levels, with the number of holders surpassing the 1 million mark — even though the meme coin is trading 50% below its all-time high.

News of the milestone and one-day price increase has energized the Shiba Inucoin community since late November 25 when the official Shiba Inucoin Twitter account tweeted the news.

What a proud and amazing milestone for ShibArmy! SHIB holders reached 1,000,000 people.

Today we all cheer and celebrate this great moment in SHIB history.

— Shib (@Shibtoken) November 25, 2021

Since the project reached this milestone, the price of SHIB has increased by 11.4% in the past 24 hours and is currently trading at $0.00004237, according to Coingecko. According to Etherscan, there are 1,002,021 SHIB holders.

Despite the recent price gains, SHIB is still trading well below its Oct. 28 peak of $0.00008190, likely due to a large number of SHIB whales taking profits.

There is a lot going on in the world of Shiba Inucoin. On November 23, Bitfinex Derivatives listed SHIB and Tether (USDT) perpetual contracts for trading.

The South Korean exchange Korbit has already started accepting deposits, and SHIB is scheduled to start trading at 3:00AM UTC. This will make Korbit the first exchange in South Korea to list SHIB.

Dogecoin (DOGE) is the only other memecoin currently traded on the four major legal exchanges in South Korea (Upbit, Bithumb, Coinone, and Korbit).

Korbit has the opportunity to list the new token paired with the South Korean won (KRW), as it is one of the few exchanges in South Korea to fully comply with new rules aimed at combating money laundering by Sept. 24.

DOGE is the fifth most traded cryptocurrency in South Korea. Since the ICO mania in 2017, DOGE has become very popular in South Korea, and the cryptocurrency is trading at a higher price than the global price, known as the "kimchi premium." Whether the addition of more memecoins such as SHIB will spark another speculative frenzy remains to be seen.

SHIB is currently one of the most popular memecoins on the market, second only to DOGE. Both are among the top 15 cryptocurrencies by market cap. Inspired by DOGE, SHIB itself has many altcoins on several chains. In total, there are more than 19 cryptocurrencies with “Shiba” in their names.

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