Shiba Inu gains over 15,000 Holders despite losses. Will it climb back up?

Paigambar Mohan Raj
Source: Analytics Insight

The cryptocurrency markets entered a bloodbath this week, with massive whale liquidations hurting sentiments. However, projects like Shiba Inu are continuing their popularity stride even in these dire times.

According to the data provided by CoinMarketCap, Shiba Inu recorded 15,805 new holder addresses between April 10th and May 10th. CoinMarketCap recorded 1,131,043 token holders on April 10, which has now increased to 1,146,848.

This leads to an average of 3,951 new tokens holders each week, or 527 new holders per day.

SHIB’s entire market value on May 10 was $9.06 billion, down from $13.47 billion on April 10. By market capitalization, SHIB is now the 16th most valuable cryptocurrency.

Can Shiba Inu get back up?

Shiba Inu, without a doubt, has one of the most loyal fan bases in the crypto space. It has constantly topped the most talked-about cryptos list on social media platforms. The project also has had a large number of collaborations and listings in 2022.

ShibaKraken, the official Twitter handle of SHIB’s core personnel, has recently published a new enigmatic video. The video teases a new launch, partnership, or announcement in the works. The term Shiba Inu “CK1,” which is imprinted in the film, is the most crucial portion of the teaser, implying that the release or announcement centers around it. However, the teaser has few facts, leaving it left to speculation as to what it may be about.

There were rumors that CK could stand for Calvin Klein, leading to many speculating about a possible collaboration. However, these rumors were soon put to rest as ShibaKraken soon dismissed them.

Additionally, at press time SHIB has entered the greens in the daily charts with an increase of 5.7%, trading at $0.00001751. Although the token is still down 15.4% on the weekly charts.