Shiba Inu whales seem to be more active over the last 24 hours
WhaleStats analysis of the top 100 Shiba Inu holders indicates that 24-hour trading volume for this address category exceeded 317%. The active addresses of this category of holders increased by 40%.
Also, per IntoTheBlock data, Shiba Inu whales (Large Holders) seem to be more active over the last 24 hours as the number of large transactions rose by 24%. Large transactions are those in which more than $100,000 were moved, and an increase may signify great activity among institutional players, or whales, who are either buying or selling.
Shiba Inu has once again become the largest token position for the top 100 ETH whales by USD value, according to data from WhaleStats.
Shiba Inu (SHIB) remains the top holding among the top 2,000 ETH whales. These top wallets currently hold $1,210,850,345 worth of SHIB. SHIB was trading down like the rest of the market amid the latest widespread declines. At the time of publication, SHIB was changing hands at $0.000020, down 6.48% in the last 24 hours per CoinMarketCap data.
David Gokhshtein, the founder of Gokhshtein Media and former candidate for US Congress, thinks Shiba Inu have a great role model. However, he believes the next 12 months could be key for Shiba Inu.
Shiba Inu’s recent developments
Top crypto exchange Binance recently announced adding a new Shiba Inu trading pair, SHIB/GBP. In response to the community’s feedback, the Shiba Inu team recently disclosed that land can now be purchased with the Shiba Inu token in SHIB: The Metaverse, while sharing the details of minting land with SHIB.
Also, Shiba Inu gained new owners this week. According to WhaleStats, the total number of SHIB holders is currently 1,144,895. Although an increase in the number of holders may not have an immediate impact on the price, it can mean interest in an asset over time. .
According to reports, more than 25 billion SHIB tokens have been burned in the first week of the SHIB burn portal’s operation. By moving SHIB tokens to a burn address, users can permanently remove them from the circulating supply. In this way, it is feasible to make the token a little more scarce, potentially increasing its value.
