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Shiba Inu (SHIB) Adds More Trillionaire Addresses in Surprising Turn

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Fri, 8/09/2023 - 11:30
Shiba Inu (SHIB) Adds More Trillionaire Addresses in Surprising Turn
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Dog-themed cryptocurrency Shiba Inu (SHIB) has added more trillionaire addresses in the last 30 days in what might be deemed a surprising twist.

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Data from on-chain analytics firm IntoTheBlock indicates significant growth in the number of Shiba Inu trillionaire addresses, specifically those that hold 1 trillion to 10 trillionaire SHIB.

Per the IntoTheBlock's "Addresses by Holdings" statistic, An increase of 17.07% is seen for the category of those who held between 1 trillion and 10 trillion SHIB. This address category has grown the most in the previous 30 days.

Likewise, the balance held by this category of trillionaire addresses grew by 21.15%, increasing the most monthly.

On the contrary, Shiba Inu millionaire addresses, which held between 1 million and 10 million SHIB, rose the least, with only a 0.14% gain, whereas larger trillionaire whales, which held up to 100 trillion SHIB, witnessed a considerable fall in address count.

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August was a notable one for Shiba Inu as it saw the launch of the much anticipated Shibarium, but it was not devoid of challenges. Shibarium paused shortly after its initial Aug. 16 launch due to a massive influx of users; this unexpected turn of events triggered FUD subsequently.

As a result, Shiba Inu (SHIB) closed August down 5.11% despite rising to highs of $0.0000114 during the month.

Shibarium has been relaunched and is running smoothly. At the time of writing, the Layer two blockchain has reached 1,382,299 total transactions; 1,119,582 wallet addresses and 520,962 total blocks, per Shibariumscan.

While Shibarium has gained momentum, Shiba Inu's (SHIB) price is yet to recoup its losses and remains significantly down from its August high.

At the time of writing, SHIB was marginally up 0.17% in the last 24 hours to $0.00000762, mirroring the lackluster trading on the general crypto market.

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