Shiba Inu's Holder Count Wobbles Amid UK Access Expansion
Shiba Inu's on-chain holder count recently experienced a dip of 1,424 addresses in a single day, but it has since recovered part of that loss. The current holder count stands at 1,678,300, which is still below the August 5 peak of 1,678,991.
This drop may seem alarming, but it's essential to understand that a wallet address isn't always a different person. One investor can hold Shiba Inu in several wallets, so a decrease in addresses doesn't necessarily mean 1,424 people sold and left. It could be due to someone merging wallets or an exchange moving funds internally.
Despite this minor wobble, Shiba Inu's market capitalization remains steady at 30th place among all cryptocurrencies. The token is currently trading at approximately $0.0000004503, down 3.97% over the past 24 hours.
A more significant development for Shiba Inu investors is the expansion of access to the UK through Robinhood's partnership with Bitstamp. This will allow eligible customers in the UK to trade SHIB alongside stocks and shares ISAs in the same app, with zero trading fees and no account maintenance or custody charges.
Looking ahead, the recovery of Shiba Inu's holder count is a key aspect to watch, as well as the impact of Robinhood's UK rollout on the token's accessibility and adoption.