Shiba Inu surpasses MATIC in market cap as SHIB holder numbers continue to grow

Tomiwabold Olajide

Shiba Inu surpasses MATIC in market cap as SHIB holder numbers continue to rise

According to CoinMarketCap data, Shiba Inu continues to hold its position as the 14th largest cryptocurrency by market cap. With a current market value of $11.33 billion, Shiba Inu has surpassed Polygon’s $10.36 billion to become the 14th largest coin.

Source: CoinMarketCap Data

Meanwhile, the number of Shiba Inu holders continues to grow despite the recent price drop. According to Whale Statistics, the number of SHIB holders has grown to new all-time highs of 1,155,141, as reported by WhaleStats.

The recent increase suggests a growing community, a healthy sign. While the growth in the number of holders in the short term may not necessarily affect the price, it may indicate interest in a token over time. The dog cryptocurrency is currently trading at $0.000019, down 14.83% in the past 24 hours according to data from CoinMarketCap.

The recent price drop doesn’t seem to stop Shiba Inu’s major investors from piling up. When the SHIB price fell to a low of $0.000017 on Jan. 22, an Ethereum whale rose in 27th place Whale Statistics bought 52,797,208,383 Shiba Inu tokens, or $1,012,122 worth.

MATIC, the original asset of the Polygon blockchain, is trading down 17.66% at a current price of $1.35 as crypto market volatility continues. The cryptocurrency market succumbed to further selling pressure on January 24 as Bitcoin plunged to a low of $33,438. Most altcoins record significant losses in the past 24 hours. In the past seven days, many altcoin tokens in the top 100 posted losses between 20% and 50% at the time of printing.

SHIB price action

SHIB fell to a low of $0.000017 on January 22 amid a broad sell-off in the crypto market. Prices rose slightly to highs of $0.000023 on Jan. 23, but SHIB was unable to match the bears’ activity in the market.

The price of Shiba Inu is trading at a current price of $0.0000196 as the crypto market continues to be rattled by significant selling pressure.

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