While most digital currencies have seen gains during the last month, the meme token called shiba inu has lost more than 17% during the last 30 days. Despite the fact that shiba inu is down 72% from the crypto asset’s all-time high, shiba inu is still up 37,130% against the U.S. dollar over the last 12 months. However, since March 15, the number of shiba inu holders has dropped 3.55% from 1.19 million holders to 1.15 million over the last five days.
SHIB Holders Slide 3.55% in 3 Days
Interest in meme tokens is waning as the meme coin economy has lost significant value over the last six months. At the time of writing, the meme coin economy’s market valuation is $30.2 billion and a great majority of that value belongs to dogecoin (DOGE) and shiba inu (SHIB). Both of the top meme coin assets had a phenomenal year in terms of market performance but in recent times, SHIB and DOGE have continued to slide in value. Currently, shiba inu (SHIB) is down 5% over the last two weeks and over 17% during the last 30 days.
Total SHIB address count according to coinmarketcap.com on March 20, 2022.
Moreover, statistics indicate that the number of SHIB holders today is much less than it was five days ago as 3.55% of SHIB holders have left the meme coin’s ecosystem. Metrics from coinmarketcap.com and etherscan.io show the number of SHIB holders decreasing since March 15, 2022. Since that day, the number of SHIB holders (unique addresses) dropped from 1.19 million holders to 1.15 million. It’s not the first time SHIB holders dropped as the number decreased on January 27, but then regained momentum and continued to increase.
Etherscan.io max total supply count for shiba inu (SHIB) and the number of SHIB holders on March 20, 2022.
The Top 10 Richest SHIB Addresses Command 64% of the Supply, Top 50 Own Over 78%
With 1.15 million SHIB addresses, 14,645 of them have been active during the last 24 hours. Data stemming from intotheblock.com metrics show shiba inu (SHIB) has a significant concentration of large holders (whale count) with a score of 80%. In contrast, the leading crypto asset bitcoin’s (BTC) whale count is much lower, as BTC has a score of 11% in terms of the cryptocurrency’s concentration of large holders. Today, statistics indicate that the top ten richest SHIB addresses own 64.43% of the entire shiba inu token supply.
SHIB/USD 4-hour chart via Tradingview on March 20, 2022.
The top 20 richest SHIB addresses control 71.72% of the entire SHIB supply and the top 50 richest addresses command 78.59% of the SHIB token supply. Again, to show the difference between two crypto assets, bitcoin’s richest ten addresses hold 5.59% of BTC’s supply and the top 50 addresses only hold 11.40% of the current BTC in circulation. While SHIB is up 37,130% against the U.S. dollar in a year’s time, only 40% of SHIB holders have profited at the current price level.
Over the last seven days, SHIB users transacting with $100K or more in shiba inu moved $516.49 million worth of SHIB last week. SHIB is also very concentrated with the trading pair tether (USDT), as the stablecoin represents 61.39% of SHIB’s 24-hour trades. USDT is followed by USD (19.98%), BUSD (9.52%), TRY (6.75%), and DOGE (0.62%). The top six most active SHIB exchanges include Binance, Hitbtc, Digifinex, Kucoin, Huobi, and Crypto.com.
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What do you think about the number of SHIB holders dropping during the last three days? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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