TOP BUSINESS NOW ACCEPTING SHIBA AS PAYMENT OPTION

Following the spectacular drop in the cryptocurrency market, the euphoria surrounding meme coins like Shiba Inu (SHIB) seems to have subsided recently.

Despite this, current reports indicate that some investors are still buying up cryptographic assets as the number of SHIB addresses tapping reaches a new high. CoinMarketCap data shows that as of September 12, there were 1,221,112 SHIB holders overall, an increase of 40,033 over the previous three months.

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Even though it dropped at the beginning of August, the number of SHIB holders has continuously risen, greeting 16,876 holders in the past month.

But when seen more broadly, interest in the meme coin has decreased. Global searches for the term "Shiba Inu" over the previous year, as shown by Google Trends

had fallen to their lowest level since July of last year.

LUNC, which experienced a catastrophic breakdown in May, has gained ground as the preferred meme cryptocurrency, and SHIB appears to be losing ground as the most promising meme coin.

Investors are reportedly flocking to SHIB in the meanwhile as they anticipate a rally from the rising utility the coin is generating. For instance, in the US, businesses like Uber Eats and DoorDash now accept SHIB as a form of payment.