SHIB has secured a place among the most outstanding securities despite the significant setbacks in its price. As interest in that market has grown, the cryptomeme has scored a record by reaching one million holders.
The position of Shiba Inu (SHIB) in the market has given much to talk about in the last weeks. The cryptomeme has remained popular in social media as it has been the second crypto with the most mentions in November.
Its fame could continue afloat even when the market positions did not favor it in the last month. Only the popularity of the pioneering cryptocurrency, Bitcoin, is above that of Shiba Inu.
The Interactions of Users in the SHIB Community
Throughout the days, the cryptocurrency secured a place among the most outstanding securities in the crypto world. Although the price of SHIB has had significant setbacks, a portion of the market continues monitoring its performance very closely.
Recent data indicate that Shiba Inu maintained a remarkable popularity margin on Twitter, reflecting the attention it still receives. There has been a high number of interactions around the mentions of the cryptocurrency in social media.
In that regard, users mentioned SHIB more than 4 million times in the abovementioned social network. It also surpassed Ethereum (ETH) in terms of the number of followers.
The interactions in the community allowed it to achieve that privileged position among the popularity of the crypto field. Although it has not surpassed Bitcoin in terms of the mentions, it succeeded in exceeding Dogecoin (DOGE) and Cardano (ADA).
The Ups and Downs of Shiba Inu in November
The cryptomeme underwent a path of ups and downs that did not favor it. Even though it did not lose its fame, that situation impacted the performance of its price.
November was a weak month as SHIB fell back from the all-time high of USD 0.000088 that it reached on October 28th.
Shiba Inu remained popular by being the center of attention for its expansion plans. The community kept mentioning SHIB for its implementation as a payment method at technology retailer Newegg.
Likewise, it gave much to talk about when users were confident about adding capital to the market. This month, cryptomeme SHIB scored a record by reaching for the first time one million holders.
The price of Shiba Inu (SHIB) continues falling, but large whales, brands and corporations continue buying the cryptocurrency.
Short-Term Traders Invest USD 36 Million in SHIB
In the last week, short-term traders abandoned their positions and most of the markets. As a consequence, small altcoins like Shiba Inu and Dogecoin suffered a higher loss than Bitcoin.
Inversiones en el Mundo CEO Sergio Turi recently said that Shiba Inu experienced a minor setback. That is justifiable due to the steady bullish trend that it had previously shown.
SHIB is trading at around USD 0.00005220 and has accumulated a 34.1% profit in the last 24 hours. Its trading volume is above USD 8.01 billion, and its market capitalization is about USD 28.4 billion. The cryptomeme occupies 11th place in the cryptocurrency ranking, according to CoinGecko.
By Alexander Salazar
