SHIB onboards 2,400 new holders on average daily despite volatile market

SHIB onboards 2,400 new holders on average daily despite volatile market
9 months ago
2 mins read

Despite recent instability in the cryptocurrency market, the number of decentralized token Shiba Inu (SHIB) holders continue to grow in 2022.

It’s noteworthy that across the last month, SHIB has increased the total number of unique addresses that hold assets of the meme token to a record high of 1,136,080 as of January 13, 2022, according to CoinMarketCap data.

Interestingly, on December 15, 2021, there were 1,063,858 Shiba Inu holders, indicating that the asset had gained 72,222 new holders over the previous 30 days. Therefore, on average, SHIB added 2,407 unique addresses every day to its network.

Total Addresses that hold SHIB. Source: CoinMarketCap

SHIB holder statistics

Notably, the top 10 holders currently hold 64.59% of the total supply. In contrast, The top 100 holders hold 80.76%, which indicates that despite over 1 million holders, the asset is controlled by a number of whales.

SHIB holder statistics. Source: CoinMarketCap

In accordance with this, Shiba Inu has once again surpassed the $1.5 billion mark in capitalization on whale-tier wallets, becoming the largest holding among the top 1,000 largest Ethereum addresses on the Ethereum network, as per WhaleStats.

Whales’ holdings of the Shiba Inu are currently worth $1.67 billion (15.09%), while ownership of the FTX token, which ranks second, is worth $1.65 billion (14.87%).

SGIB top holding out of top 1000 ETH wallets. Source: WhaleStats

Additionally, a fresh surge of purchasing power from whale-tier addresses has boosted the value of the meme token cryptocurrency, which is now trading at $0.00003185, up 10.55% in the last 24 hours and 8.18% in the previous week with a market cap of $17.4 billion.

SHIB 7-day price chart. Source: CoinMarketCap

30% of all SHIB spot trades globally through Binance

Recently, we reported that Shiba Inu has continued to garner listing on a variety of exchanges, but that a large portion of the token’s spot trading activity happens on Binance and its affiliates. 

Indeed, the cryptocurrency exchange Binance handled around 30.54% of SHIB’s spot trading volume on January 8, with the exchange’s main platform accounting for the largest portion of the market at 21.31%. In comparison, Coinbase’s share of SHIB’s trading volume is at least three times fewer than Binance at around 13% in the second spot.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.