Almost 40% of SHIB circulating is in the public’s ownership, Twitter community is calling Shiba Inu more than BTC
As AZCoin News reported, Shiba Inu (SHIB) price had at one time entered the top 15 largest cryptocurrencies by market capitalization. But now, this coin meme is trading in the red, changing hands at $0.00002849.
Almost 40% of all Shiba Inu (SHIB) tokens are now in public hands
SHIB is a token with a reasonably large total circulating supply on the market, up to 394,796.00B SHIB. According to project information, Shiba Inu has a maximum total supply of 1,000,000,000,000,000. With numbers like that, it is estimated that 39.47% of all SHIB tokens are trading in public hands. This means that the public owns almost 40% of all coins circulating in the market.
Source: CoinMarketCap
The total supply of SHIB is the number of coins that have been created, minus the number of coins that have been burned, and it is equivalent to the number of shares outstanding on the stock market. Recently, the Shiba Inu price had seen a significant increase in value, with the initial decentralized meme token skyrocketing when it was listed on Coinbase on September 16 for $870 million invested in Shiba Inu in just 24 hours.
Similarly, following a recent increase in popularity, Twitter account Shiba Inu announced on October 7, 2021, that it had passed the 1 million followers milestone.
Source: Shib/Twitter
According to CoinTrendz, (SHIB) received more mentions on Twitter within an hour than Bitcoin. It even surpassed cryptocurrencies in the top 10, such as Ethereum (ETH), Dogecoin (DOGE), Cardano (ADA), or Solana (SOL).
Source: CoinTrendz/Twitter
This information was updated on October 12. SHIB received 419 mentions within an hour, while the king of crypto, Bitcoin, had 307, reaching second place. This is followed by Ethereum (188 mentions), Anyswap (176 mentions), and Dogecoin with 134 mentions. Cardano and Solana are also on that list, further down Dogecoin.
Interestingly, retail investors seem to have been attracted to the project by the low cost of participation. As early as September 9, 2021, investors had the opportunity to become SHIB millionaires for only $7, with $1 buying 146,000 cryptocurrencies at that time.
Perhaps that’s why the community is calling the name SHIB quite a lot. Probably because of the Elon Musk effect and the unexpected success of Dogecoin. Maybe many people are expecting to become rich, as is the case with the DOGE millionaire.
Due to the growing retail interest, as seen on Twitter, many people have filed a petition asking Robinhood to list SHIB. It has now reached over 228,000 signatures.
Read more:
- Shiba Inu (SHIB) Price Increased By 400% In A Week, Market Capitalization Eclipsed $12 Billion
- Over 900,000 Twitter Followers, The Elon Musk Effect, Large Whales Coming, SHIB Price Up 30% For The Day