Shiba Inu

<figure><img src="https://u.today//sites/default/files/styles/1200x900/public/2023-06/35905.jpg" alt="Cover Image" width="800"
 height="500">
 <figcaption>Cover image via <a href="https://u.today/">U.Today</a></figcaption>
 </figure>Shiba Inu is continuously losing its backbone as the number of <a href="https://u.today/shib-btc-eth-accepted-as-payment-by-440-merchants-in-france-via-this-partnership">SHIB</a> billionaire holders is plummeting. Per recent data, this select group is shrinking rapidly.Per recent statistics, only 0.7% of <a href="https://u.today/major-trader-snaps-up-shiba-inu-shib-and-ethereum-eth-dips-with-millions-of-dollars">SHIB</a> holders can now be considered billionaires in SHIB terms. This fall in the percentage of substantial holders is a clear indication that profit-taking is becoming a dominant trend on the SHIB market.Interestingly, even as the percentage of large SHIB holders is diminishing, certain metrics such as large holders' netflow show a different story. The seven-day change in large holders' netflow stands at a whopping +1,024.86%, which typically signals an increase in buying pressure. On the other hand, the 30-day change presents a different picture with a -22.71% decrease. Despite this roller-coaster of changes, over a more extended period, the 90-day change showcases an overall positive trend of +199.49%.<img alt="Shib Data" data-entity-type="file" data-entity-uuid="df33c04c-7f43-49c5-ab64-b4257f8c5860" src="https://u.today/sites/default/files/inline-images/image_2023-06-07_15-26-06.png" />Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=ownership&amp;chart=all">IntoTheBlock</a>However, these percentages can be misleading. Despite these large percent changes, the actual increase in the volume of SHIB is far less significant. This discrepancy can be attributed to the volatility of the crypto market and the immense supply of SHIB, which currently stands at one quadrillion coins.The declining number of billionaire holders and the increased profit-taking behavior indicate a significant shift in SHIB market dynamics. It suggests that while a small number of investors continue to hold massive amounts of SHIB, many are choosing to secure profits, thereby contributing to increased market volatility.<a href="https://u.today/some-investors-made-2572-on-coinbase-put-options-what-did-they-know">card</a>As always, investing in cryptocurrencies, particularly meme coins like Shiba Inu, is risky due to their highly speculative nature. Investors must stay informed and carry out their due diligence before making any investment decisions. As it stands, only a minuscule portion of SHIB investors fall into the billionaire category, reflecting the shifting dynamics of this unpredictable market.

Shiba Inu Whales Are Gone as SHIB BIllionaire Addresses Drop to 0.7%

U_Today

Weitere Artikel, die am 7. Juni 2023 veröffentlicht wurden

Investing in Cryptocurrencies: Pioneering Blockchain Solutions with Swift and Chainlink

Whale withdraws almost $62m worth of MATIC from BinanceUS

Unusual COIN option trade happens around SEC lawsuits

FET Price Struggles Amid Bearish Sentiment: Will Bulls Overcome Resistance?

BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse

Ethereum (ETH) Makes New Highs in This Metric as Price Slightly Increases

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!