- Shiba Inu ($SHIB) officially smashed the 1,000,000 holders record in November.
- An additional 100,524 holders have been recorded since November 25th according to Whalestats
- The record indicates that Shiba Inu has been found in the wallets of over 1,000,000 investors who plan to hold Shiba Inu for longer periods.
Shiba Inu, the self-professed Dogecoin killer, has had a tremendous year. Since shooting into the limelight in April after its debut in 2020, the fledgling dog-themed meme coin has garnered a whopping 65,200,000% gain, reaching an all-time high of $0.0000862 in October, before gradually recoiling to its current $0.0000325 price value. This means a dollar worth of investment in Shiba Inu last year would be worth well over $650,000 at the moment.
Much of its success has risen on the back of promotional hype, a cult-like following of investors, and the powerful hedge-themed influence of elite crypto traders. Elon Musk still holds credit for propelling Shiba Inu into the deca-billion market cap class shortly after an October 3rd tweet of his Japanese pet dog. Even though the Shiba Army still struggles to keep the attention of the world’s richest man and grand influencer of the crypto space, there are some significant strings of successes it has recorded on its own in the year 2022.
Landing Coinbase and 66 Other Exchanges
After the process of presale and ICO, one of the major milestones that grant legitimacy to any crypto coin is its acceptance on major listings. In the year 2021, the Shib Army successfully propelled Shiba Inu to relevance, helping the 13th biggest crypto asset debut on 66 different exchanges including Coinbase and Binance —the world’s leading exchanges.
Following its petition to gain a listing on Robinhood —which has since gathered over 550,000 signatures — rumors are ripe that the stock trading and investment platform has begun talks over including Shiba Inu into its listing in January.
The move, if eventually possible, would add more feathers of legitimacy to the cap of Shiba Inu especially in the eyes of ultra-skeptical wall street investors looking for ways to hedge against a wobbling dollar.
The Road to $1
The road to one dollar, for Shiba Inu, is paved with good intentions and a lot of hard work. In the coming year, investors will become keen on assets with substance and seamless sustainability.
Shiba Inu may have thrived on the hype and the unity of early takers determined to make it work for the sake of their investment but it needs to transition from its strong attachment to dogs and make the case for better usage, scalability, and attractive prospects. It is predicted that it may need another 12,000,000% value growth in 2022 to reach a dollar. Quite long but quite doable.