Shiba Inu acquires more than 30,000 new investors in a month despite the decline

Despite SHIB’s lackluster performance in recent months, the crypto still seems to be gaining sympathy from investors. The crypto industry is going through a tough time. While major cryptos like bitcoin (BTC) seem to be the most affected, others like Shiba Inu don’t know what foot to dance on. However, Shiba Inu acquired new investors within a month.

Shiba Inu (SHIB): Over 30,000 New Owners in One Month

The cryptocurrency market is a growing concern for investors. Last year, too, the sector seemed to flourish and attract all the attention. But the tension has been at its peak in recent months. The price of almost all cryptos is falling. While all eyes are on large-cap assets, smaller cryptos are finding their way in near silence.

On March 17, the Shiba Inu registered a historic decline. Indeed, the crypto faced a sudden drop in all unique addresses on the network it contained. This incident resulted in the loss of nearly 33,000 holders in one day. So one can imagine the chaos while a few months earlier the number of unique addresses steadily increased.

Even if the situation seems sudden and catastrophic, the fall may have started a few months earlier. In fact, according to Finbold, the decline in the number of transactions would have started four months earlier. The fateful moment of this 9.2% decline is therefore only the logical consequence of a continuous decline.

But between April 27 and May 26, 2022, the crypto meme acquired more than 30,000 new holders. The number of token holders has increased from 1,139,421 to 1,169,989. That’s a total of 30,568 new investors, according to CoinMarketCap.

New SHIB holders, what are their motivations?

The sudden resurgence of interest that is developing around the crypto meme is still food for thought. Why now? When Shiba Inu was almost on the brink of extinction, he suddenly returns to attack. Within a month, Shiba Inu acquires new investors.

Fortunately, all this has an explanation. Recently, SHIB caught up with the native token of the FTX cryptocurrency exchange, FTT. As a result, he became the most important to hold of Ethereum’s largest whales. Last week, the Shiba Inu team announced that Marcie Jastrow will participate in the “Shib: The Metaverse” project.

Shib: The Metaverse

Jastrow is an entertainment industry professional who joined SHIB’s metaverse team. According to Shytoshi Kusama, chief crypto developer, this first clue should surprise many. Marcie Jastrow has worked in the entertainment industry for over 20 years. His arrival in the team should therefore be an added value for the development of crypto based on the well-known meme.

The team and the Shiba Inu community welcomed him with open arms. So this could be one of the reasons for the enthusiasm that crypto has sparked over the past month. In addition, crypto can now be used to purchase Tag Heuer luxury watches. Add to this the fact that SHIB is also accepted as a method of payment in many restaurants.

All of this comes just at a time when the cryptocurrency burn rate has increased exponentially. Recently, the phenomenon broke all records and 12.8 billion Shiba Inu were burned in just 24 hours.

As the SHIB team explores and implements ways to restore crypto’s image, things seem to be returning to normal. Within a month, Shiba Inu acquired more than 30,000 new investors. Such excitement may be the result of all the measures taken to stay on track and keep crypto going.

Source: Finbold

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Eddy Senga

Passionate about cryptos and the blockchain, I would like to introduce this universe to those who don’t know it yet, and encourage them to adopt it like me.

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