1 million Shiba Inu users can’t be wrong … can they?

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Shiba Inu (SHIB) has taken an adoption milestone by surpassing the million-holder mark, even though memecoin is trading 50% below its all-time high.

News of the step and daily price increase energized the Shiba Inu community from the official Shiba Inu Twitter account tweeted a cry late November 25.

Since the project hit that milestone, the price has jumped 11.4% in the past 24 hours, with SHIB now trading at $ 0.00004237 according to Coingecko. There are 1,002,021 SHIB holders according to Etherscan data.

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Despite the recent price hike, the SHIB is still trading well below its October 28 peak of $ 0.00008190, possibly due to profits made by SHIB whales.

There is a lot going on in the Shib Inu world. Bitfinex Derivatives listed SHIB paired perpetual contracts with Tether (USDT) for trading on November 23.

And the South Korean Korbit Exchange accepted the deposits and SHIB was expected to start trading at 3 a.m. UTC. This makes Korbit the first Korean stock exchange to list Shiba Inu.

Dogecoin (DOGE) is currently the only other memecoin available for trade on the four major exchanges that still operate legally in South Korea: Upbit, Bithumb, Coinone, and Korbit.

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Korbit has the opportunity to list new tokens associated with the Korean Won (KRW), as it was one of the few exchanges in Korea to fully comply on September 24 with new rules designed to combat money laundering. .

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DOGE is South Korea’s fifth most traded crypto in terms of trading volume. DOGE has been very popular in Korea since 2017, when the country was in the throes of ICO fever and cryptocurrencies were trading at a higher price than global prices – known as ‘Kim Chi Premium’. It remains to be seen if the addition of more memecoins such as Shiba Inu could lead to another speculative frenzy.

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SHIB is one of the most popular memecoins on the market today, behind DOGE only. Both are among the top 15 cryptocurrencies by market cap. Inspired by DOGE, SHIB himself has many copy parts across multiple channels. In total, there are over 19 cryptos with “Shiba” in their names.