The SHIB token has managed to create a lot of hype on the cryptocurrency market in the last two months. The meme cryptocurrency that is considered to be a clone of the original Dogecoin has managed to rally at a breakneck speed and become the biggest satirical token next to Dogecoin. However, during the last two days, the statistics of the market have started to change.
New Milestone for SHIB Token
While a considerable amount of crypto traders have continued to buy the dip, the SHIB token is moving towards a new achievement. As noted by Etherescan.io, the total number of digital wallet addresses present on the SHIB blockchain is only 9,000 addresses away from becoming 1 million strong.
Two weeks ago, the SHIB token prices experienced a major correction. During this time, the transaction activity did not reduce on the blockchain. On the contrary, a huge number of new investors rushed to accumulate more SHIB tokens and buy from the dip. As per the statistics from Etherscan.io, in only two weeks, SHIB gained 80,000 new unique addresses.
For the time being, SHIB continues to show signs of a massive price correction. Data from CoinMarketCap indicates that the SHIB token is trading 50% lower than its ATH in October. For the time being, the total unique addresses present on top of the SHIB coin are around 991,306.
Several technical analysts and digital traders have claimed that the meme coin fever has started to depart from the cryptocurrency market. The latest market activity indicates that most SHIB holders are trying to cash out their holdings before the price hits near zero. The possibility of SHIB token getting a listing at Kraken and Robinhood is still not out of the question.
Meanwhile, the cryptocurrency payment facilitator CoinGate has recently announced that it is going to add SHIB as a mode of payment as well. The CoinGate listing will allow the SHIB holders to purchase from more than 500 merchants. However, the biggest Dogecoin competitor has continued to move downwards despite all accumulation and corporate interest.