The number of new investors taking an entry position in Shiba Inu (SHIB) is moving at a snail’s pace. SHIB boasted approximately 1.5 million holders at the start of January, and nine months down the line in September, the numbers have barely moved up. According to the latest data from Etherscan, SHIB holders are still 1.539 million with a growth of just 0.002% over a month. In August, the number of holders was 1.535 million, and has grown by only 4,000 wallets.
Also Read: What Happens If Shiba Inu (SHIB) Reaches $1?
The development does not come as a surprise, as Shiba Inu has failed to generate interest among the investor community. The relentless price dip has made traders avoid the token as it is erasing all investments made this year. SHIB has dipped nearly 43% year-to-date and is among the least-performing cryptocurrencies in the market. The development has dampened investors’ mood as several other altcoins are delivering better profits.
Investments in Shiba Inu Dries Up, Traders Are Staying Away From SHIB
Etherscan data shows that only 5,500 transactions were completed in the last 24 hours. The 24-hour trading volume has swindled to only $148 million, which is a meager amount compared to other cryptocurrencies. For example, Dogecoin’s daily trading volume is above $1 billion and has maintained the momentum despite the dip. Even Pepe’s trading volume is 2 times more than Shiba Inu and stands at $348 million.
Also Read: Shiba Inu Rises: First Meme Coin on DeFi Platform Folks Finance
There is less trading activity in Shiba Inu, and that’s adding to its price decline in 2025. SHIB was once the beacon of hope to the average investor who believed it could deliver millions of dollars. The hope has now been crushed, and the waiting period to just break even is getting longer. Only a massive bull run or a bigger burn mechanism can save Shiba Inu from its deep slumber.
Credit: Source link
