The SHIB token is considered by many as one of the most successful cryptocurrencies projects this year. According to CoinGecko, the token gained one hundred million percent price momentum on the year-to-date metric. However, during the last few weeks, the satirical token started to move in the bearish alley.
Many market investors started to believe that the SHIB token has reached its full potential, but the token has made headlines one more time on the cryptocurrency front. As per the official Twitter account of SHIB blockchain, the network has reached the one million digital addresses mark recently.
Biggest Rival of Dogecoin
The SHIB token has been dubbed the most popular cryptocurrency project. It is worth noting that during the last two months, the meme coin was able to leave behind its biggest rival, Dogecoin, two times.
The SHIB token also made headlines when it was listed by the Gemini exchange in November. It is worth noting that SHIB investors have been campaigning to get the meme crypto to get listed on all major investment platforms. Binance and Coinbase listed the token as early as September. Gemini added tokens like AUDIO from Audius, USDC, and RARE from SuperRare at the same time as SHIB.
The managers of the SHIB token have claimed that the current month has been pretty great for the meme token. It is worth noting that a lot of investors started to have doubts about the SHIB token when news about whales owning more than 85% of its supply became public.
SHIB token is not the only cryptocurrency that has faced setbacks during recent years. Regulators in the United Kingdom have recently issued warning against the Floki Inu token. The authorities raised questions about the unethical advertisement posted by the newest meme coin addition in the cryptocurrency market.