Since the start of the week, big holders, sometimes known as whales in the crypto industry, have added 100 billion SHIB to their addresses of Shiba Inu tokens, according to IntoTheBlock. Currently, it is believed that these addresses together have 661,99 trillion SHIB. It is crucial to understand that the “dead” address, where Shiba Inu tokens are transferred to be destroyed, contains 410,36 trillion tokens.
A positive change in balance was seen among individuals who are classified as investors by the IntoTheBlock technique in addition to the biggest addresses. Here, we refer to addresses that are currently in possession of 0.1% to 1% of the total amount of Shiba Inu tokens. There are a total of 41 such addresses. They now contain somewhat more space—7 billion SHIB more—than before.
Is this bullish for Shiba Inu (SHIB)?
Even while the adjustments appear to be for the better, it doesn’t seem accurate to argue that they are bullish for the Shiba Inu cryptocurrency. The reverse is actually true.
Keeping in mind that many of these whale addresses and some of the so-called investor addresses are exchange accounts, it is possible that the fact that they are becoming “fat” indicates that the Shiba Inu token’s actual holders are transferring their tokens to the exchange rather than whales. This typically indicates that actual bitcoin holders are feeling inclined to sell.
The fact that the total holdings of retail Shiba Inu token holders declined by 160 billion SHIB throughout the review period serves as one illustration of how this is true.
