Meme Coins Defy Broader Crypto Downturn with Slow Growth and New Listings

The crypto market's altcoin season may be over, but some meme coins are finding ways to buck the trend. Shiba Inu's holder count has been steadily increasing, albeit slowly, reaching just under 1.6 million at the time of writing.

According to on-chain data from Etherscan, this represents a gain of fewer than 2,000 new holders over the past two weeks, a far cry from the kind of growth typically seen in such tokens.

The lackluster holder count is somewhat offset by an increase in futures volume, which shot up 60% to around $140 million in a single day. Open interest climbed alongside it, suggesting speculative positioning rather than organic accumulation.

This surge could be tied to an oversold setup, given that T. Rowe Price's active crypto ETF now holds SHIB while developing new features, including auto-burn upgrades and a Layer-3 privacy build.