The meme-based digital asset shiba inu has entered the top ten largest crypto assets by market capitalization, knocking dogecoin down a notch. Over the past 30 days, the shiba inu token has climbed 976%, capturing a market cap of over $ 40 billion. Meanwhile, the concentration of shiba inu whales is still quite large these days alongside the massive circulating supply of 549 trillion tokens.
Shiba Inu hits record prices to overthrow the Dogefather
This week, the shiba inu crypto asset (SHIB) has hit an all-time high (ATH) a few times, including today, during early morning trading sessions. SHIB’s ATH was around $0.00008616 and then the value subsequently dipped 11% below the high. SHIB’s market valuation soared to $ 40 billion and allowed the shiba inu token market to enter the top ten for crypto assets. Shiba inu managed to knock dogecoin (DOGE) down a notch as well from the ninth position to the tenth.
SHIB is mostly traded with tether (USDT) these days as the USDT commands over 76% of all SHIB trades in the past 24 hours. SHIB/USDT pairs are followed by BUSD (13.13%), TRY (4.96%), EUR (3.10%), and USD (0.84%).
The main SHIB exchange today is Binance, followed by Huobi Pro, Okex, Coinbase and Poloniex. While BTC’s trade volume is around $45 billion on Thursday, SHIB’s is just a hair lower with $41 billion in 24-hour swaps across the globe.
Concentration of Shiba Inu whales 75% for 20 unique addresses
Meanwhile, there are plenty of SHIBs in circulation, even after Vitalik Buterin distributed 1,000 billion tokens and the deflationary characteristics of the network. Today there are 549 trillion SHIB tokens in existence, which is far from being scarce like other crypto assets such as bitcoin. Bitcoin’s whale concentration is much lower as the rich list is around 14.65% while the rich list of SHIB is shockingly different. BTC’s concentration by large holders, according to Into the Block stats, is only 11%.
According to data from coincarp.com, 10 holders accumulate 71.90% of the circulating supply. Some of these wallets are operated by crypto exchanges like Binance and Crypto.com. Out of 838,305 unique addresses (holders), 20 holders command 75.95% of the supply. As the circulating supply of BTC on Wednesday is 18,856,937, it is much smaller than the 549 153 115 436 361 SHIB existing today. The top 100 SHIB holders out of the 838,305 own 80.48% of the SHIB supply.
