Advertisement
AD

Main navigation

Shiba Inu Holders Increase in Number, Price Nears Historic "Buying" Zone

Advertisement
Mon, 9/05/2022 - 11:49
Shiba Inu Holders Increase in Number, Price Nears Historic "Buying" Zone
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

As the Shiba Inu community eagerly awaits the next big item for the SHIB ecosystem, the SHIB holder count is quietly climbing, according to WhaleStats data.

Advertisement

Shiba Inu has gained nearly 7,000 holders since the start of May. According to WhaleStats, the total number of SHIB holders is currently 1,146,486. At the close of April, the count stood at around 1,139,916. Although an increase in holders may not have an immediate impact on the price, it may signify interest in an asset over time and, therefore, remains a positive sign.

Shiba Inu's price is currently trading at $0.0000164, representing a nearly 12% decrease in the last 24 hours. SHIB dipped to intraday lows of $0.00001664, thus marking the lowest levels so far in 2022.

TradingView
SHIB/USD Daily Chart, Courtesy: TradingView

As seen on its daily chart, Shiba Inu is currently dabbling support beneath the $0.000017 level, from where its price rose 100% in late January. The daily RSI remains at historic oversold levels, suggesting the possibility of a near-term relief rally and likely consolidation before the next major price move.

In late January, Shiba Inu fell to as low as $0.000017 as the crypto market dipped. This was followed by sideways trading, or consolidation, for a few days before a positive climb kickstarted in February. Shiba Inu's price then rose more than 100% to attain highs of $0.0000354 on Feb. 7.

On the other hand, further price dips may target the $0.000012 level next.

Whale takes advantage of dip to buy 56 billion tokens

During periods of market volatility, whales typically take advantage of market dips to buy their favorite tokens at a discount. ETH whale "Bombur," who now owns 1 trillion SHIB, recently bought 56,946,679,217 SHIB or $1,070,028.

As previously reported by U.Today, Shiba Inu developer Shytoshi Kusama teases lots of exciting developments for the SHIB ecosystem in the coming week and months. At current prices, Shiba Inu remains down 81.28% from its all-time highs of $0.000088 attained in October 2021 and ranks 16th largest cryptocurrency in terms of market value.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD