Shiba Inu owners are increasing amid the market crash, but there is a problem

The number of entities owning the popular Shiba Inu (SHIB) memecoin hit record levels during the recent cryptocurrency crash, with prices dropping to attractive levels.

But the token has also seen its whale holders fall out of favor, a sign that the biggest crypto holders may lose faith in memecoin.

SHIB adds 16482 carriers

The cumulative valuation of the meme token market has fallen by 2% over the past day to stand at $18.8 billion. The SHIB token prices It has decreased by 27% in the last 7 days. Top Ethereum (ETH) whales Shiba Inu’s total contract value also fell to $566 million. Lately, price unloading and uncertainty dragged the SHIB token down to stand in third place in terms of holdings.

Meanwhile, the gray bears It rose impressively. The market crash that intensified on May 8, 2022 shows that more than 1.14 million wallets were carrying the Shiba Inu token. However, the number of SHIB holders rose as the crypto market crackdown escalated. As of May 16, 2022, 1,162,394 wallets hold SHIB tokens with them. The meme token saw an increase of 16,482 carriers in the severe market crash. However, the highest level (ATH) for portfolios holding SHIB stands at 1,180,140.

28.4 billion gray hairs were burned by the official burning portal

The total market valuation has shrunk by 2.20% in the past 24 hours to stand at $1.27 trillion. Shiba Inu price is down 3% in the past 24 hours, trading at an average price of $0.00012. The new drop in the SHIB price led to an increase in the number of holders.

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Meanwhile, Shabrmy is not holding back because they have burned about 450 million SHIB tokens in the past 24 hours. However, the official Shiba Inu burning portal has sent over 28.44 billion Shina Inu tokens to a dead wallet since its inception.

Earlier, MILKSHAKE hinted that the soon-to-be launched Chebarium will be similar to Polygon in terms of operability, scalability, and security.

Ashish believes in decentralization and has a keen interest in developing Blockchain technology, the Cryptocurrency ecosystem, and NFTs. He aims to create awareness about the growing crypto industry through his writing and analysis. When he’s not writing, he’s playing video games, watching some action movies, or going out for some outdoor sports. reach me on [email protected]

Submitted content may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrency. The author or publication assumes no responsibility for your personal financial loss.

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