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Shiba Inu Average Balance Held by Large Holders Spikes 18% as New Milestones Are Set

Mon, 07/11/2022 - 12:33
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Tomiwabold Olajide
Whales continue to accumulate Shiba Inu amid recent price drop
Shiba Inu Average Balance Held by Large Holders Spikes 18% as New Milestones Are Set
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According to WhaleStats' analysis of the top 100 Shiba Inu holders, the average balance held by these large holders has risen by a whopping 18%.

Analysis of Top 100 Shiba Inu Holders, Courtesy: WhaleStats

This comes as whales continue to accumulate Shiba Inu amid the recent price drop. Over the weekend, U.Today reported the Ethereum whale, Gimli, grabbing 750 million SHIB in three different transactions.

Currently, the top 1,000 ETH wallets are holding 56,253,165,153,694 SHIB valued at $624,403,475. The Shiba Inu holder count has also reached the 1.2 million mark, setting a new milestone. The recent growth seen in the number of holders might not impact prices in the near term but signifies interest in an asset over the long term.

According to the Shibburn Twitter handle, in the past 24 hours, there have been over 69,507,755 SHIB tokens burned, and 11 transactions were made.

In the last seven days, more than one billion Shiba Inu tokens were torched, as the Shibburn Twitter handle reported on July 10 that over 918,640,569 SHIB tokens had been burned, and 100 transactions were made.

Shiba Inu gets into boxing ring in Argentina

As reported by the Shiba Inu Army Argentina Twitter handle, female boxer Viviana Palavec has chosen to wear the SHIB logo on her sports outfit in solidarity with SHIB.

The translation of the note in the tweet reads: "Welcome VivianaPalavec8 to Shibarmy, it is an honor that you are part of this beautiful family and wear the Shiba logo to all your fights. It is a sample that Shiba can be adopted in any possible way in the world of sport."

At the time of publication, SHIB was changing hands at $0.000011, down 2.61% in the last 24 hours.

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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.