Shiba Inu Approaches An Important Milestone

Shiba Inu SHIB/USD — the Dogecoin DOGE/USD-killer memecoin turned utility token — is likely to hit a major milestone that will take it to the big cryptocurrency club.

What Happened: Ethereum ETH/USD blockchain data service Etherscan shows there are currently 977,797 Shiba Inu-holding wallets on the network. While this is a purely psychological barrier and milestone, it gives the coin's marketing team a new tool to create buzz on social media.

What's more, a growing community is expected to help the liquidity on the token's ShibaSwap decentralized exchange (DEX) and its Shiboshi non-fungible token (NFT) ecosystem.

All those initiatives are largely why the token's community does not feel the term "memecoin" does justice to Shiba Inu anymore. As Benzinga recently reported, Shiba Inu's community recently started pointing to the fact that "it is a real coin with a real community behind it" and that it could be seen as decentralized finance (DeFi) and NFT ecosystem token.

See Also: SHIBA INU PRICE PREDICTION

SHIB Price Action: Shiba Inu is trading $0.00004346 after seeing its value fall by nearly 9.16% over the last 24 hours according to CoinMarketCap, Thursday afternoon at publication. 

Photo: Maxim Isbach via Unsplash