SHIB holders’ amount changes in dramatic way, but it may be blessing in disguise
According to Etherscan, the number of holders of SHIB, the token of the Shiba Inu ecosystem, has dropped significantly over the past eight days. From a recent peak of 1.28 million on 23 November, the number of SHIB holders had fallen to 1.25 million by the first day of winter. Therefore, 30,000 addresses, or 2.3% of the total maximum number, have completely removed Shiba Inu tokens from their balances.
The statistics are also consistent with the behavior of large investors. As previously reported by U.Today, Ethereum whales have been actively reducing the share of Shiba Inu tokens in their holdings, bringing their number to 8.03 trillion coins, which is now equivalent to $74.47 million.
In comparison, over the summer, the number of SHIBs in the wallets of this group of investors exceeded $500 million at almost the same value of assets.
Has the price of SHIB hit bottom?
What is interesting is that the price has not reacted negatively in any way to the rather tangible decline in holdings, which implies a similar scale sell-off in SHIB. Moreover, during the period under review, the asset’s quotations showed a modest increase of almost 2%.
Such dynamics may once again indicate that the price of SHIB has bottomed out or bottomed out. Still, the accumulation here could go on for a long time.
