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Shiba Inu Active Whale Addresses Jump 44% as SHIB Usage Increases

Sat, 06/11/2022 - 21:30
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Tomiwabold Olajide
Shiba Inu’s utility has spiked among whales as WhaleStats reports that SHIB ranks among most-used smart contracts
Shiba Inu Active Whale Addresses Jump 44% as SHIB Usage Increases
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Shiba Inu whales have been more active in the last 24 hours. WhaleStats' analysis of the top 100 Shiba Inu holders reflects a 44.44% spike in active addresses as crypto whales interacted with billions of Shiba Inu.

Analysis of the Top 100 Shiba Inu Holders, Courtesy: WhaleStats

Shiba Inu's utility has spiked among whales as WhaleStats reports that SHIB ranks among one of the most used smart contracts among the top 2,000 ETH whales in the last 24 hours. The top 5,000 ETH whales now own $603,009,840 worth of SHIB.

Also, Shiba Inu gained more holders in June. According to WhaleStats, the total number of SHIB holders is currently 1,177,885. At the time of publication, SHIB was trading down nearly 7% at $0.000009, in line with the recent crypto market declines. This has caused the average Shiba Inu balance and worth of whales to drop.

Shiba Inu lead developer expounds on NFT plans with 2,000 Welly NFTs minted so far

According to SHIBQueenie, the official SHIB Discord moderator and member of the Growth Breed, more than 2,000 Welly NFTs have been minted so far.

Shedding light on the purpose of the Welly NFTs, Shiba Inu's lead developer, Shytoshi Kusama, states that the NFTs were created to act as membership instruments that act as smart contracts for particular Welly locations. He says that was the sole reason for the low price of 0.12 ETH to begin with.

Furthermore, although this is subject to change, the goal is to reward DOG members or Welly NFT holders every quarter and have decisions made via the SHIB BONE (DOGGY) DAO on monthly proposals or as needed.

Continuing further, the Decentralized Organizational Group, or DOG, acts as a special entity within the Welly location(s). This entity works via a set of "Smart Contractors" who have optional DOG membership by holding a Welly NFT. The DOG structure remains under development.

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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.