Shiba Inu dubbed the OG meme token, is presently encountering slow price action. The token has slumped to $0.00001767 and is currently projecting an uptick of 1% in the last 24 hours. The OG meme token has long been known as the crypto that has given birth to most millionaires. The 2021 price rally of SHIB has been dubbed as historic by many, ushering in a new wave of change and transformation for investors in terms of their fortunes and wealth.
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The New SHIB Millionaire Metric
The token’s slow price pace and ascent have considerably impacted the SHIB millionaire metrics. The number of SHIB millionaires or investors holding $1 to $10 million SHIB in their accounts has also undergone a significant downturn. As per the data revealed by Into The Block, the number of addresses whose SHIB holdings are under $1 million has now stabilized at 986.
To elaborate on the breakdown, out of 986 addresses, nearly 909 addresses are currently holding nearly $1-$10 million shib into their accounts. The remaining 77 addresses are investors whose accounts hold more than $10 million SHIB tokens.
With Shiba Inu hitting a new low in June, the number of wallets holding a million of shib has drastically fallen. Per the data revealed by the portal earlier, the millionaire count stood at 1319 earlier, signifying that nearly 333 wallets have lost their millionaire status in the current SHIB downfall.
Why Is This Still Positive?
The SHIB ecosystem is known for its diverse product offerings and efforts that it continues to embed to drive growth. Shiba Inu will soon be launching a blockchain version of its game Shiba Eternity. The launch could play a pivotal role in helping SHIB recover its fallen fortunes sooner than predicted timelines.
At the same time, the token layer 2 solution Shibarium is also attracting robust on-chain activity. The chain has documented a surge of 388% in its transaction volume. The development is indicative of the heightened interest and volume that the token is encountering despite falling numbers and metrics.
Per CoinCodex, Shiba Inu is expected to reclaim some of its fallen graces by July 2, by surging nearly 60% in the process.
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“The Shiba Inu price forecast for the next 30 days is a projection based on the positive/negative trends. Based on these Shiba Inu projections. SHIB will be changing hands at $ 0.00002949 on Jul 2, 2024, gaining 65.73% in the process.”
At the same time, the Shiba Inu ecosystem is also gearing up to launch a plethora of new product offerings. This includes working on launching ShibaHub, Shibaswap, and Layer 3 testnet, as significant new offerings to woo users into the space.
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