Bullet Points:
• Shiba Inu (SHIB) has seen a 41% increase in the past 30 days and has a market capitalization of approximately $6,327,745,697.56.
• Long-term holders have been identified as a crucial aspect of the Shiba Inu ecosystem’s success, with many exchanges, such as Binance and Crypto.com, holding a large portion of the coin.
• The Shibarium network is also set to launch, which will act as a layer 2 scaling solution, beginning with the DogPad Launchpad ecosystem.
The second largest meme-inspired cryptocurrency, Shiba Inu (SHIB), has been making waves in the crypto space in recent weeks. With a 41% increase in the past 30 days, the top Ethereum-based meme coin is currently trading at around $0.00001153 on Friday. The Shiba Inu network boasts over 1,288,164 holders, leading to a high trading volume of approximately $200 million, even amidst the bear market.
However, it is the fundamental aspects of the coin that have truly excited the Shiba Inu community. The Shiba Inu ecosystem boasts a market capitalization of approximately $6,327,745,697.56, and long-term holders have been identified as a crucial aspect of the ecosystem’s success. According to analytics data from intotheblock, the number of Shiba Inu holders with over a year of holding history has increased in the past year, while short-term holders have seen a decline.
Some of the Shiba Inu long-term holders include Binance and crypto.com exchanges, with the rest being unknown wallets with more than 1 percent of the total supply of Shiba Inu. The Shiba Inu ecosystem is also thrilled with the upcoming launch of the Shibarium network that will act as a layer 2 scaling solution. Reportedly, DogPad will be the first Launchpad ecosystem of the Shibarium network. DogPad has a bullish working dashboard and some utilities that are set to go live soon.
Shiba Inu enthusiasts are hopeful that the upcoming launches and initiatives will help the coin gain more traction in the crypto space, and that the long-term holders will continue supporting the Shiba Inu ecosystem. With the bullish market sentiment and the upcoming launches, Shiba Inu is sure to make a lasting impact in the crypto space.