Shiba Inu has gained nearly 7,000 holders since start of May
As the Shiba Inu community eagerly awaits the next big article for the SHIB ecosystem, the number of SHIB owners is slowly increasing, according to data from WhaleStats.
Shiba Inu has gained nearly 7,000 holders since the start of May. According to WhaleStats, the total number of SHIB holders is currently 1,146,486. At the close of April, the count stood at around 1,139,916. Although an increase in holders may not have an immediate impact on the price, it may signify interest in an asset over time and, therefore, remains a positive sign.
The price of Shiba Inu is currently trading at $0.0000164, which represents a decline of almost 12% in the last 24 hours. SHIB dropped to intraday lows of $0.00001664, marking the lowest levels so far in 2022.
As seen on its daily chart, Shiba Inu is currently dabbling in support beneath the $0.000017 level, from where its price rose 100% in late January. The daily RSI remains at historic oversold levels, suggesting the possibility of a near-term relief rally and likely consolidation before the next major price move.
In late January, Shiba Inu fell to $0.000017 as the crypto market plunged. This was followed by sideways trading, or consolidation, for a few days before a positive climb began in February. The Shiba Inu price then rose more than 100% to a low of $0.0000354 on February 7.
On the other hand, further price dips may target the $0.000012 level next.
Whale takes advantage of the decline to buy 56 billion tokens
During periods of market volatility, whales usually take advantage of market declines to buy their favorite tokens at a discount. ETH Whale “Bombur”, which now owns 1 trillion SHIBs, recently bought 56,946,679,217 SHIBs or $1,070,028.
As previously reported by U.Today, Shiba Inu developer Shytoshi Kusama teases lots of exciting developments for the SHIB ecosystem in the coming week and months. At current prices, Shiba Inu remains down 81.28% from its all-time highs of $0.000088 attained in October 2021 and ranks 16th largest cryptocurrency in terms of market value.
