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SHIB Whale Adds 53 Billion Tokens as Balance Held by Large Holders Grows

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Fri, 24/12/2021 - 10:04
SHIB Whale Adds 53 Billion Tokens as Balance Held by Large Holders Grows
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WhaleStats reports that an Ethereum whale has added 53 billion Shiba Inu tokens, or $2,008,890 worth, to its holdings. The average SHIB balance held by large Shiba Inu holders is up 8% according to metrics supplied by the whales' surveillance website.

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Shiba Inu's price is up nearly 7% in the last 24 hours in line with the general market rebound, as positive investor sentiment spread across the markets ahead of the holidays.

Whale accumulation also seems to play a significant part in Shiba Inu's rise from lows of $0.00002820 since Dec. 20, with SHIB upholding its top place as the biggest token position by dollar value.

WhaleStats
Source: WhaleStats

The top 100 Shiba Inu holders have likewise increased their portfolios as WhaleStats reports an 8% rise in the average SHIB balance of this category of investors. SHIB's net flow is also up a whopping 629%, demonstrating healthy metrics.

Shiba Inu price action

Shiba Inu rose from lows of $0.00002820 on Dec. 20 to reach highs of $0.000040 today before a slight retreat to where it presently trades at $0.00003850. Shiba Inu remains down nearly 60% from all-time highs.

The Shiba Inu network is also growing by welcoming more than 85,293 new users after reaching the one million mark a little over a month ago, bringing the current holder count to 1,085,293.

The increasing number of users may not have an immediate effect on a coin or a token in terms of market price, but from the fundamental growth standpoint, many holders are a key determinant of the asset's future.

Shiba Inu continues to grip the 13th spot among top cryptocurrencies by market capitalization, having a valuation of $21.05 billion, according to CoinMarketCap.

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