Shiba Inu (SHIB) already has 1.28 million holders

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The cryptocurrency Shiba Inu, also known as SHIB, has continued to attract investors and has also seen a rise in popularity in the cryptocurrency market in recent years. According to the latest report, the number of current SHIB holders has reached 1.28 million, reflecting a growing interest in the meme cryptocurrency.

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The growing number of SHIB holders can be attributed to the growing popularity of the coin among the crypto community. Many investors are drawn to SHIB because of its low value, allowing them to invest small amounts of money and potentially earn significant gains if the coin’s value rises.

According to CoinMarketCap data, the number of active addresses for Shiba Inu holders in the last 24 hours is 14,645. The recent increase in SHIB holders has been linked to the top 100 holders, with the top 10 holding 61.36% of the SHIB token, the top 20 holding 69.47%, the top 50 holding 77.99% and the top 100 with 80%. There have been 14,645 active addresses of people who own Shiba Inu in the last 24 hours.

Over the past four days, there has been a steady increase in the number of SHIB holders. On April 4th, the number of holders reached its lowest point at 1282K, but at the time of writing, the number has risen to 1285K. These recent statistics suggest that the number of SHIB holders has consistently hovered around the 128K mark.

In the last 24 hours, the Shiba Inu price has increased by 1.04% and is currently selling for $0.00001098. There is a support level at $0.00001085 and a resistance level at $0.00001106. However, the trading volume of SHIB has significantly decreased by 40.28% and now stands at $112,970,980.

Shiba Inu price technical analysis

According to the 24-hour Shiba Inu price analysis, there is bullish sentiment in the market. This can be observed by the moving average convergence/divergence line (MACD), which is currently above its signal line. This suggests that the bullish momentum is expected to continue. However, traders should remain cautious and closely monitor the support level at $0.00001085. A break below this level could lead to a reversal of the downtrend.

Furthermore, the positive trajectory histogram is also an encouraging sign for traders and investors. The positive trend will probably continue in the next few hours. Therefore, traders should carefully consider these factors when making Shiba Inu investment decisions.

According to the line reading of the Relative Strength Index (RSI), bulls dominate the Shiba Inu market. This is because the RSI indicator is currently trading above its simple moving average (SMA), a positive sign for the market. This suggests that the current uptrend may continue shortly.

However, it is essential to note that there is also some neutrality in the market as the RSI reading is at 49.75. This means that the crypto market is firmly favoring neither the bulls nor the bears.

SHIB/USD 24-hour price chart (Source: TradingView)

Overall, the growing number of Shiba Inu holders and positive market sentiment indicate the promising future of this cryptocurrency.

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