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Shiba Inu (SHIB) Billionaire Owners Quietly Growing Holdings, This Might Be Reason

Fri, 07/14/2023 - 16:00
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Tomiwabold Olajide
Shiba Inu (SHIB) billionaire addresses quietly increasing their holdings
Shiba Inu (SHIB) Billionaire Owners Quietly Growing Holdings, This Might Be Reason
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Data from on-chain analytics firm IntoTheBlock shows Shiba Inu (SHIB) billionaire addresses are quietly growing holdings as a fundamental boost for the Shiba Inu ecosystem looms.

IntoTheBlock discovered that Shiba Inu billionaire addresses, specifically those who own 100 billion to 1 trillion SHIB, have raised their holdings the most in the last 30 days, suggesting steady accumulation by this category of holders.

Notably, Shiba Inu has seen accumulation from various tiers of holders in the last 30 days, but Shiba Inu holders who control over 100 billion to 1 trillion SHIB have grown their holdings by a whopping 10.36% in this time frame.

Given that the total SHIB owned by this class of holders amounts to trillions, the increase in balances remains significant.

Shiba Inu: Bulls and Bears Battle for SHIB Price Direction

The past week alone, from July 3 to July 10, saw an increase in the balance held by Shiba Inu large billionaire addresses from 103.5 trillion Shiba Inu to 105.99 trillion SHIB. The difference represents an increase of 2.4 trillion SHIB.

Shiba Inu keeps registering laudable improvements on all fronts as the development team and SHIB officials work to promote SHIB and its related projects on a worldwide scale.

In a recent tweet, Shiba Inu lead Shytoshi Kusama announced the rebranding of the official SHIB token website. This also applies to the websites of some Shiba Inu ecosystem projects.

"As the Summer of Shibarium continues, we are proud to introduce new branding for and other Shibarmy websites," Kusama tweeted.

The community received the news with excitement, hinting that something new and big might be coming to the SHIB ecosystem.

Shiba Inu (SHIB) Whales on Major Move as Transactions Jump 383%

The Shiba Inu community eagerly awaits the launch of the Shibarium mainnet, which is expected to provide a fundamental boost to Shiba Inu ecosystem tokens (SHIB, BONE and LEASH).

The date is speculated to be around the Blockchain Futurist conference, which will be held in Toronto this August. Shibarium continues to gather interest, with the team receiving more than 7,000 applications for Shibarium beta intake forms.

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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.