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SHIB Large Holder Volumes Jump 124% with Surprising Growth in User Base

Fri, 12/16/2022 - 13:46
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Tomiwabold Olajide
SHIB large holder volumes record significant increases in address activity
SHIB Large Holder Volumes Jump 124% with Surprising Growth in User Base
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WhaleStats' analysis of the top 100 Shiba Inu holders indicates that the 24-hour volume for this category of addresses has risen by 124%. According to on-chain analytics firm Santiment, several altcoins are seeing significant increases in address activity, and dormant wallets are awakening to move funds, including SHIB.

According to CoinMarketCap, Shiba Inu was trading at $0.00000859 at the time of publication, down 3.24% in the last 24 hours and 7.65% in the past week.

Bitcoin and the majority of altcoins faced another rout while giving up earlier gains as the Federal Reserve signaled that it would continue to raise rates. The impact of its resolve was felt as, instead of the 0.75% hike anticipated by many people, it moved this figure back to 0.5%.

Earlier in the week, the crypto market recovered on the back of a CPI report that suggested that hot inflation in the United States may be cooling.

SHIB adds thousands of holders in days

On Dec. 6, U.Today reported the number of Shiba Inu holders to be 1,257,121. This number has grown as, according to WhaleStats, there are currently 1,266,326 Shiba Inu owners. This means that SHIB gained over 9,000 new holders in just 10 days.

According to SHIB BPP, a Shiba Inu community-focused Twitter account, "SHIB is not just adding new holders; over 83% of wallet addresses have now been held for more than 6 months."

In adoption news, SHIB users would be able to use their assets to pay for phone bills in Bahrain through a Binance Pay partnership.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.