The leading meme-based crypto asset, Shiba Inu, has continued to face a severe price drop amid prolonged crypto market volatility, yet its user activity has remained positive.
While uncertainty caused by its frequent price fluctuations has persisted, it appears that new users have remained enthusiastic about the leading meme token project, and they have continued to join the Shiba Inu ecosystem.
Over 2000 holders added since November
Latest on-chain data from Etherscan shows that the Shiba Inu holder count has now reached 1,698,454 as of today, November 9, following the consistent growth seen in the past day.
This means that a total of 2,025 new SHIB holders have been added to the ecosystem since the new month began, signaling sustained user growth even while its price performance has been extremely weak so far in November.
While the consistent increase in SHIB holders has been accompanied by a persistent decline in its price and slowed on-chain activity, it remains uncertain whether the rise in the number of holders could be pointed to increasing accumulation.
Shiba Inu eyes key holder milestone this month
The surge in SHIB holders has drawn attention from market analysts as it comes after the network witnessed slow adoption late last month as nearly 2,500 wallet addresses holding the meme coin disappeared within just two days.
Nonetheless, it appears that interest in the meme token is picking pace again as a decent number of users continue to join in everyday, positioning it to hit the long-anticipated 1,700,000 holder milestone this month as Shiba Inu currently needs to add only 1,546 more holders to hit this key level.
