Despite the given meme-coin label, Shiba Inu continues to surprise the cryptocurrency community on a daily basis. By the end of 2021, the platform passed the 1 million holder milestone. Since then, SHIB has added over 200,000 new holders. At the time of writing, the total number of Shiba Inu holders is 1,198,043. Thus, reflecting the growth.

Building Community

IntoTheBlock analysis reports that the volume of Shiba Inu transactions over $100,000 continues to reach new highs. In fact, on February 9, the metric reached $389.89 million. It also notes that these transactions represent 81% of the total volume on the chain. Advantage Whale has played a crucial role in helping SHIB reach this goal.

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Source: Twitter

The top 100 Shiba Inu holders increased their portfolios as WhaleStats reported a 178.87% increase in the average SHIB balance of such investors. The average SHIB value of their portfolios increased by 180.48%. In the last 24 hours, trading volume and active addresses have increased by 880% and 18.18%, respectively.

In achieving this feat, SHIB's holding ($1.40 B) surpassed FTT ($1.36 B), the local cryptocurrency on the FTX exchange. Simply put, SHIB is now the second largest holding in Ether Whale.

All the things that led to this

It seems that with such impressive numbers, the adoption of emoji tokens has been increasing. Recently, Mustafa Elitaş, Vice Chairman of AK Party Group and Minister of Economy of Turkey, discussed the adoption of SHIB with Shiba Inu Türkiye, a member of the "SHIB Army" from Turkey. Shytoshi Kusama, developer of Shiba Inu, tweeted that

Good news. Global adoption continues to grow #Shibarmy Thanks . @mustafaelitas for meeting with @shibaturkish https://t.co/hslz83DAYY

– Shytoshi Kusama™ (@ShytoshiKusama) March 9, 2022

Well, it is important to note that an increase in the number of holders may not directly affect the token as far as the market price is concerned. At the time of writing, SHIB was trading at $0.00002295, down 5.65% in 24 hours.