As the number of SHIB billionaires declines, Shiba Inu is steadily losing its strength. Recent data show that this exclusive group is fast dwindling.
Only 0.7% of SHIB holders may currently be categorised as billionaires in SHIB terminology, according to recent figures. This decrease in the proportion of significant holdings is a blatant sign that profit-taking is taking over as the dominating trend on the SHIB market.
It’s interesting to note that while the proportion of major SHIB holders is declining, certain indicators, such large holders’ netflow, paint a different picture. A significant increase in purchasing pressure is often indicated by a seven-day shift in major holders’ netflow, which now stands at an astounding +1.024.86%. The 30-day change, however, paints a different picture with a -22.71% decline. Despite this roller-coaster of swings, the 90-day change shows an overall favourable trend of +199.49% over a longer time frame.
These figures, nevertheless, can be deceptive. Although there have been considerable % increases, the actual growth in SHIB volume has been far less noticeable. This difference may be explained by the turbulence of the cryptocurrency market and the massive supply of SHIB, which is estimated to be one quadrillion coins at the moment.
A substantial change in the SHIB market’s characteristics may be seen in the dropping percentage of billionaire holders and the rise in profit-taking activity. It implies that while a tiny percentage of investors continue to retain significant quantities of SHIB, the majority are choosing to lock in profits, which is causing the market to be more volatile.
As always, there is risk involved when investing in cryptocurrencies, especially meme coins like Shiba Inu. Before making any investment decisions, investors must stay educated and conduct their due research. Only a tiny fraction of SHIB investors are currently billionaires, which is a reflection of the volatile market’s changing characteristics.
