The Number of SHIB Holders Shudders in 3 Days, Shiba Inu Slid 17% in Value Last Month

SHIB

While most digital currencies have seen gains during the last month, the meme token called shiba inu has lost more than 17% during the last 30 days. Despite the fact that shiba inu is down 72% from the crypto asset’s all-time high, shiba inu is still up 37,130% against the U.S. dollar over the last 12 months. However, since March 15, the number of shiba inu holders has dropped 3.55% from 1.19 million holders to 1.15 million over the last five days.

SHIB holders slip 3.55% in 3 days

Interest in meme tokens is waning as the meme coin economy has lost significant value over the past six months. At the time of writing, the market valuation of the meme coin economy is $30.2 billion and a large majority of that value belongs to dogecoin (DOGE) and shiba inu (SHIB). Both major meme coin assets have had a phenomenal year in terms of market performance, but of late SHIB and DOGE have continued to decline in value. Currently, the shiba inu (SHIB) is down 5% in the past two weeks and over 17% in the past 30 days.

Moreover, statistics indicate that the number of SHIB holders today is much less than it was five days ago as 3.55% of SHIB holders have left the meme coin’s ecosystem. Metrics from coinmarketcap.com and etherscan.io show the number of SHIB holders decreasing since March 15, 2022. Since that day, the number of SHIB holders (unique addresses) dropped from 1.19 million holders to 1.15 million. It’s not the first time SHIB holders dropped as the number decreased on January 27, but then regained momentum and continued to increase.

The 10 richest SHIB addresses command 64% of the supply, the top 50 own more than 78%

With 1.15 million SHIB addresses, 14,645 of them have been active in the last 24 hours. Data from intotheblock.com metrics shows that the shiba inu (SHIB) has a significant concentration of large holders (number of whales) with a score of 80%. On the other hand, the number of whales of the main crypto asset bitcoin (BTC) is much lower, as BTC has a score of 11% in terms of concentration of the cryptocurrency of large holders. Today, statistics show that the top ten richest SHIB addresses own 64.43% of the total shiba inu token supply.

The top 20 richest SHIB addresses control 71.72% of the entire SHIB supply and the top 50 richest addresses command 78.59% of the SHIB token supply. Again, to show the difference between two crypto assets, bitcoin’s richest ten addresses hold 5.59% of BTC’s supply and the top 50 addresses only hold 11.40% of the current BTC in circulation. While SHIB is up 37,130% against the U.S. dollar in a year’s time, only 40% of SHIB holders have profited at the current price level.

Over the past seven days, SHIB users who traded $100,000 or more in shiba inu moved $516.49 million from SHIB last week. SHIB is also very focused with pair tether (USDT) trading, as the stablecoin accounts for 61.39% of SHIB’s 24-hour trades. USDT is followed by USD (19.98%), BUSD (9.52%), TRY (6.75%) and DOGE (0.62%). The top six most active SHIB exchanges are Binance, Hitbtc, Digifinex, Kucoin, Huobi, and Crypto.com.

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