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Major Shiba Inu (SHIB) Holders Move Differently During Current Price Action, Here's How

Wed, 01/25/2023 - 15:00
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Gamza Khanzadaev
Detailed insight into how major Shiba Inu (SHIB) holders act during current price performance
Major Shiba Inu (SHIB) Holders Move Differently During Current Price Action, Here's How
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According to IntoTheBlock data provided by CoinMarketCap, the size of holdings of major Shiba Inu token holders has declined significantly week-over-week. For example, the share of SHIB's top 100 holders holding 81.38% of the token's supply decreased by 0.1%, and the positions of the top 50 declined by 0.4%.

Shiba Inu Burn Rate at 1,000% Increase as More Than 110 Million SHIB Destroyed

It is important to clarify that 56.5% of them belong to the "dead address" where Shiba Inu tokens are sent to be burned, as well as to crypto exchanges' wallets.

It is now clear that the big players cut their positions in SHIB at the time of the 20% pump of the Shiba Inu token price exactly one week ago. Having taken profits at the local high, they are now not eager to buy SHIB again.

Jump Trading is into Shiba Inu (SHIB)

At the same time, a smaller but still noteworthy investor in SHIB, represented by leading trading firm Jump Trading, is gradually increasing its position in the asset. According to Etherscan, the firm has added more than $300,000 worth of Shiba Inu tokens to its wallet today alone.

Shiba Inu (SHIB) Game Gets Game-Changing Upgrade: Details

In total, Jump Trading's wallet currently holds 127 billion SHIB tokens with an equivalent value of $1.434 million. However, the company started purchasing SHIB after a large position cut at the end of last week — the last time the price closed the day in plus so far.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.