The downfall of the FTX empire certainly ticked off carnage in the crypto market. Almost every asset in the market was seen bleeding while Bitcoin [BTC] dropped to a low of $15K earlier today. Meme coins, however, seemed to be headed toward recovery. Shiba Inu [SHIB] for instance, not only witnessed a surge in its price but also its holder count.
The total number of unique addresses that hold Shiba Inu recorded a significant rise over the last 24 hours. The asset’s holder count was at 1,239,787, during press time. This was reportedly a three-month high.
Shiba Inu took quite the hit over the last week. The meme coin dropped by nearly 20 percent over the last couple of days. The latest news indicated that the community was buying the dip.
Here’s how Shiba Inu fared through the FTX saga
As mentioned above, the entire crypto market dipped in red. Shiba Inu, Dogecoin [DOGE], and Polygon [MATIC] were the only prominent assets that were in the green. At press time, SHIB was trading for $0.00000971 with a 1.45 percent daily rise.
However, earlier today, the asset endured quite a slump.
As seen in the above chart, SHIB dipped to a low of $0.000008386 a while ago.
It should be noted that the asset plummeted from a high of $0.00001345 earlier this week. This drop was speculated to be instigated by the collapse of FTX. Additionally, a total of $1.38 million SHIB was liquidated over the last 24 hours.
While FTX brought down the entire market, Shiba Inu did not seem to be heavily affected by it. The asset also managed to overtake Solana [SOL] in terms of market cap. Shiba Inu’s market cap was at $533 billion while SOL’s market value decreased to $5.04 billion.
At present, SHIB stands as the 13th largest crypto in the market.