Shiba Inu Just Notched A New Record: It Is Now In Over 1.1M ETH Wallets

KEY POINTS

SHIB has had a good start to the year with multiple real-life projects
The dip is seen as a buying opportunity by many investors
SHIB is gaining in popularity among retailers

Despite the bearishness that has gripped the cryptocurrency market, meme crypto Shiba Inu just made a new record — of being held in over 1.1 million Ethereum wallets.

WhaleStats data on Friday showed that Shiba Inu has reached over 1,180,000 holders.

"The top 1000 ETH wallets are holding 18,266,568,894,208 $SHIB ($2,604,410,281 USD)," WhaleStats said in a tweet.

Ethereum whales are holding the most amount of Shiba Inu tokens after Ethereum, as per the data. FTX Token and USD coin followed SHIB in the list of top holdings. This comes even as the crypto market has been trading in the red for the last two days. At 4.19 a.m. ET, the crypto market cap was down 0.99% at $1.94 trillion. Shiba Inu was down 5.64% at $0.00002959.

Investors who own large quantities of cryptos are known as crypto whales.

Shiba Inu had a good start to the year because of many reasons; hence it comes as no surprise that ETH whales are accumulating SHIB in their wallets. Since the market is down, it is a good buying opportunity for investors to collect SHIB. The community also announced 'Shiberse' and scheduled 'Shibburn' events this year to attract investors.

SHIB is also being widely adopted across the globe, with major retailers and brands, including GameStop, welcoming meme-based crypto as a mode of payment.

The token has also entered into a partnership with blockchain-based fast-food chain Welly's, in another attempt to increase adoption and use case.