Shiba Inu remains on whales’ radar despite flat price action
As indicated by Whales Statistics data, Shiba Inu remains on the whale radar despite its price action. Shiba Inu is currently down 5.97% in the past 24 hours to the current price of $ 0.00003215, according to data from CoinGecko.
The majority of cryptocurrencies are losing value today as investors ruminate on the latest reports surrounding Russia’s crypto ban.
Measurements provided by the whale-watching website WhaleStats suggest that SHIB whales are taking advantage of current market conditions to accumulate the discounted token.
According to WhaleStats, Shiba Inu ranks among the top 10 purchased tokens in the last 24 hours and the biggest token position in dollars. Shiba Inu also ranked second in the top 10 holdings by whales.
Shiba Inu price action
At its current price, SHIB is down more than 60% from its all-time high of $ 0.00008616 reached in October. Despite this, SHIB experienced immense growth in 2021, up 56,342,400% from its all-time lows, according to data from CoinGecko.
SHIB’s circulating supply stands at 549,060.24 billion. A gradual burn permanently removes tokens from the circulating supply, reducing the total number of SHIB coins in circulation.
According to burn tracker ShibBurn, 410,298,915,831,867 were burned out of the initial quadrillion supply. A gradual burning of coins, along with plans for the development of SHIB games, could help the SHIB price in the medium term.
