2021 was undoubtedly an unforgettable year for the crowd-favorite meme coin, SHIB It attained remarkable turning points in regards to active token holders, and SHIB burned. Now, the most essential concern is- Can this young puppy bring the buzz forward in 2022?
Not the loudest bark
Since the start of 2022, the variety of SHIB holders saw a considerable boost. Thus, supporting the story of buzz. However, March wasn’t so kind on the meme-coin. The decentralized cryptocurrency just recently lost about 55,000 holders in just 10 days.
According to CoinMarketCap information, SHIB Holders’ count from 15 March to 25 March went from 1,198,789 to simply 1,144,118.
The stated loss post the 2nd week of March marked the continuous obstacle. Also, it wasn’t the very first bloodshed. The token skilled a huge loss of more than 30,000 holders in a single day simply 7 days back.
As per the chart above, till 17 March, it saw a significant dip by 32,832 holders. Between 16 and 17 March, the number went from 1,199,453 to 1,166,621– a 2.74% drop.
Even among the holders, 55% suffered big losses based on information from In toThe Block. Overall, the metrics indicated a bearish red zone as seen listed below.
Everything painted a grim photo here.
One might ask the factor behind the fall of SHIB? Well, there wasn’t a clear response. However, a possible factor- SHIB was losing the buzz video game. Meanwhile, Apecoin was the trending powerhouse.
On 17 March, the Bored Ape Yacht Club revealed the intro of its brand-new cryptocurrency token, Ape Coin (APE) Suspiciously, the interest appears to have actually moved to the existing popular animal-themed cryptocurrency. Consequently, it may have led individuals to change from SHIB to Ape Coin.
I got you
Despite the sound, the SHIB neighborhood was among the most crucial groups to support the procedure. SHIBburn reported that the Shiba Inu army continued to eliminate its meme tokens. The army locked the tokens into addresses to shop and not withdraw or otherwise invest. In the previous 2 days, more than 230 million Shiba Inu got damaged.
So what’s next? Well, SHIB holders can await Elon Musk to pump/promote SHIB on social networks once again.
Nevertheless, at press time, the flagship coin experienced a 3.5% correction in 24 hours. It was trading at the $0.00002 mark.
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