Main navigation

Shiba Inu Enters 2022 as Most Popular Holding on Whale Addresses

News
Fri, 12/31/2021 - 14:09
article image
Arman Shirinyan
Shiba Inu ends the year on a high note by securing first place as the biggest holding
Shiba Inu Enters 2022 as Most Popular Holding on Whale Addresses
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

The year 2021 was a triumphant one for the meme-based token that has changed the lives of many people with a 1,000% run back in October and million percentage returns since the first listings. The asset currently remains one of the most popular positions on the cryptocurrency market with more than 1.1 million holders.

Shiba remains most popular asset among whales

As the year 2021 ends, Shiba Inu remains the most popular holding among the 1,000 largest Ethereum addresses, with $1.8 billion sitting on numerous whale-tier addresses. While the asset's holding value has dropped below $1.8 billion previously, there is positive sentiment on the market right before the New Year is celebrated.

Shiba Inu Whales
Source: WhaleStats

Other markets and on-chain Shiba Inu metrics have also entered the green zone and shown growth in net flow, the average balance on whale-tier wallets and the average value of SHIB holdings.

The growth of related metrics is tied to the 2% price increase for Shiba Inu today and the absence of almost any selling pressure, according to trading volumes.

SHIB's market performance and volatility

While overall market data for Shiba Inu is looking highly positive, the volatility of the asset is still sitting at extremely low values, reaching 2% per day, which is the rate common for traditional stocks, bonds and foreign currencies.

Related
Shiba Inu, Dogecoin, Elon Musk, China and SEC: Top 21 Cryptocurrency Events of 2021

According to the token's market history, increased volatility is one of the main "selling points" of Shiba Inu, with the majority of users buying into assets in order to "hit the jackpot" by riding another 100% wave that was no surprise for SHIB.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.