Shiba Inu Coin (SHIB) Hits 750,000 Holders Milestone

Shiba Inu Coin (SHIB) now has over 750,000 holders as it continues to cement its place within the top 20 cryptocurrencies by market cap.

Shiba, which has recently expanded its ecosystem beyond the memecoin into Shiboshi NFTs, reached the milestone earlier today.

At the time of writing, SHIB has 750,670 holders. This marks an increase of 104,000 holders - or 16% - since the start of September (via CoinMarketCap).

SHIB Reaches 750k Holders, What Next?

After SHIB broke the 750,000 milestone, holders took to Twitter to celebrate.

As the SHIB ecosystem grows, potentially introducing a Layer-2 and NFT game, the inevitable next target will be 1,000,000 holders. In the past week, SHIB gained just over 26,600 new holders, averaging 3800 additional daily holders. If SHIB maintains this rate, it could hit the 1,000,000 mark on Christmas Day.

At first glance, SHIB's token share appears pretty concentrated. The top 10 wallets hold 72% of tokens, while the top 100 hold 82%. However, if you take out the burn address used by Vitalik Buterin to destroy 41% of the total SHIB supply, this number is much lower.

Even with 750,000 holders, SHIB remains far behind that of Dogecoin. 4,419,000 addresses are linked to DOGE. In comparison, there are over 38 million unique addresses linked to Bitcoin.

SHIB is one of several cryptocurrencies that has found success in 'Uptober'. After several price spikes following Elon Musk tweets, most recently on Monday, SHIB sits at $0.00002857, up 304% in the past 30 days.

Read More: Shiba Inu Coin Burn: Does SHIB Burn Coins?

[Image Credit: Rodion Kutsaev/Unsplash]

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