Shiba Inu Now The Second-Largest Held Asset Behind USDC

Shiba Inu is currently the second-largest crypto asset held among the top 100 Ethereum whales, after USDC, according to WhaleStats data, while Ethereum (ETH) remains the number one spot.

According to blockchain data tracker, the top 100 ETH whales currently own $423,180,380 in Shiba Inu, accounting for 15.55% of their total holdings. Circle’s Stablecoin, USDC, accounts for 18.08% of the total, or $491,815,225.

Long-term holders accounted for 19% of the total. As the number of Shiba Inu “hodlers” grows, this number has risen to 21%.

According to the holders’ composition by time held on IntoTheBlock, 21% of SHIB holders have held onto their tokens for more than a year, 76% have kept within a year, and 3% have held for less than a month. Mid-term holders have been reassigned as the Shiba Inu population continues to rise.

According to WhaleStats data, the number of Shiba Inu owners has increased dramatically in recent months, reaching 1,184,559 at press time.

During the recent crypto market dips, Shiba Inu fell to a low of $0.0000071 on June 18. SHIB was trading at $0.00000815 at the time of publication, up roughly 4%.

Over 83,335,225 SHIB tokens have been burned in the previous 24 hours, according to the Shibburn Twitter handle, with nine transactions. Over 95,183,018 SHIB have been burned, according to the Shibburn website. As Shibarium prepares for a future launch, the Shiba Inu team updated its most recent blog post.

Shibarium is a Layer 2 solution created by xFUND and Shiba Inu, with BONE serving as the protocol’s “gas.” This “gas” will provide the necessary capability to process and execute smart contracts and transactions.

The current fixed supply of BONE, one of Shiba Inu’s ecosystem tokens, is 250 million. The community is now debating whether to shut down BONE farms once the 230 million supply is depleted, or to raise the maximum supply from 250 million to 270 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Patrick

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