​Number of SHIB holders drops by almost 40 000 in three days

Against the backdrop of recent instability in the cryptocurrency market, the decentralized token Shiba Inu (SHIB) has experienced a pronounced exodus, witnessing a substantial decrease in the number of its holders by nearly 40,000 within a mere three-day span.

Notably, this decline coincided with a market-wide crash on June 10, triggering a mass departure of investors across various digital assets, particularly altcoins, as bearish sentiment pervaded the broader crypto space.

Of significant interest is the fact that SHIB had demonstrated a relatively steady rise in holders over the previous month; however, June 10 marked a turning point as the number of the total number of unique addresses that hold assets in the network stood at 1,316,060, subsequently plummeting to as low as 1,276,678 on June 12, as reported by CoinMarketCap.

Total Addresses that hold SHIB. Source: CoinMarketCap

As of the latest data, the count stands at 1,277,353.

SHIB holder statistics

A noteworthy observation is that the distribution of Shiba Inu tokens is heavily skewed towards a select few. The top 10 holders alone possess a significant 60.74% of the total token supply, revealing a concentrated ownership structure.

Further highlighting this trend, the top 100 holders collectively control 80.9% of the supply.

SHIB holder statistics. Source: CoinMarketCap

Shiba Inu price analysis

Shiba Inu has gained significant traction in the cryptocurrency market, currently ranking as the 18th largest asset by market capitalization, with a valuation of approximately $3.9 billion. As of the latest data, the price of SHIB stands at $0.000006771.

Over the past 24 hours, SHIB has experienced a positive upward trend, recording a 2.05% increase in value. However, when considering the past week, the asset has faced a notable decline of 15.70%.

SHIB 1-week price chart. Source: CoinMarketCap

These price fluctuations illustrate the inherent volatility of the cryptocurrency market, where rapid shifts in value are not uncommon. Investors and enthusiasts closely monitor these movements to gauge the short-term performance of SHIB and make informed decisions regarding their positions.

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

This material is taken from the website https://finbold.com.