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SHIB Now Has Over 1 Million Holders as Ethereum Whales Control 9% of Supply

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Mon, 12/20/2021 - 10:27
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Tomiwabold Olajide
0.09% of SHIB holders control 9% of circulating supply
SHIB Now Has Over 1 Million Holders as Ethereum Whales Control 9% of Supply
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Shiba Inu has reached an impressive record of nearly 1,075,000 holders. Of this holder count, 1,000 Ethereum large wallets, or ''whales,'' hold nearly 48 billion SHIB tokens.

Shiba Inu's earliest holders have made astounding returns on their initial investments, benefiting immensely from the dog-themed coin's meteoric rise. According to CoinGecko data, Shiba Inu is up 52,342172.7% from Nov. 28 all-time lows of $0.000000000056.

This impressive rise within a space of nearly 12 months has contributed to an increase in the number of SHIB holders.

According to WhaleStats, Shiba has set a new record of more than 1,075,000 holders. Out of this huge number, 1,000 large ETH wallets currently hold 48,098,038,767,872 SHIB, or $1,470,106,983 worth. SHIB has a present circulating supply of 549,150,741,363,587 and an initial supply of 1 quadrillion, according to CoinGecko data.

0.09% of SHIB holders control 9% of the circulating supply

The 1,000 ETH wallets tracked by WhaleStats represent nearly 0.09% of the total 1,075,033 holders. Given that they currently hold 48,098,038,767,872 SHIB according to WhaleStats, this represents nearly 9% of the 549,150,741,363,587 circulating supply.

This might seem to explain the impact of this category of investors on the SHIB price. SHIB's meteoric rise from September to October went hand in hand with a rapid rise in retail interest in the coin. Shiba Inu captured retail attention as the chances of such an impressive surge to slip up in the minds of retail investors are pretty slim.

At the time of publication, Shiba Inu is the 13th largest cryptocurrency, with a current market cap of $16.3 billion. SHIB is trading down 6.83% in the last 24 hours at $0.0000292.

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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.