- Shiba Inu whales have scooped up 256 billion SHIB tokens as the Dogecoin-killer started its recovery.
- The spike in Shiba Inu burn has sent burn rate up 600%, over 130 million SHIB were sent to dead wallets.
- The fiftieth largest Shiba Inu whale holds 1.25 trillion SHIB worth 13.3 million.
The two largest Shiba Inu whales started accumulating the meme coin through its recent dip in price. Shiba Inu price bounced off critical support level at $0.0000098, and the meme coin is ready to recover from the recent decline. Analysts reveal a bullish outlook on SHIB.
Also read: MATIC price: Polygon hits new milestone, active users double to 5.8 million
Shiba Inu whales accumulate $2.71 million worth of SHIB
Typically, large wallet investors scoop up the meme coin during its downtrend. In the recent downtrend, two large Shiba Inu whales accumulated a whopping $2.71 million worth of 256 billion SHIB tokens within a 24 hour period.
The most popular Shiba-Inu-themed cryptocurrency made an attempt to bounce off crucial support at $0.0000098. Two deep-pocketed SHIB investors poured millions in three transactions to revive the meme coin from its decline.
The whale is the fiftieth largest Shiba Inu holder and adding $1.32 million worth of SHIB to their portfolio increased their holdings significantly. The whale added this in two transactions within a 24 hour period.
50th largest SHIB whale accumulates Shiba Inu
Shiba Inu burn rate climbed to 600%
Based on data from Shibburn, a total of 132 million SHIB tokens have been permanently destroyed by the joint efforts of the SHIB army. This has triggered a 600% increase in the Shiba Inu burn rate.
Two of the largest burn transactions, 54,946,535 and 30,763,170 are recorded on the burn portfolio, both performed by the same mysterious wallet 0x8621a6b76a1c39713997b98230a7bb05526f89b3.
Shiba Inu holder count hit new all-time high
Shiba Inu holder count climbed in September 2022, to hit a new all-time high. Over 100,000 holders were added to the list and a total of 2,203,375 users hold Shiba Inu. On Shiba Eternity’s worldwide release, the meme coin added roughly 10,000 holders.
Analysts have set a target of $0.00001081, $0.00001109 and $0.00001156 for Shiba Inu. Army_Shiba is bullish on a Shiba Inu price rally.
SHIB-USDT price chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin: Holds $105K mark as MicroStrategy adds 11,000 BTC, Trump pardons Silk Road creator Ulbricht
Bitcoin price trades around $105,000 on Wednesday after rebounding from the $100K support level the previous day. Michael Salyor’s MicroStrategy announced on Tuesday that it has acquired 11,000 BTC worth $1.1 billion, and President Donald Trump pardoned Silk Road creator Ross Ulbricht.
World Liberty Financial adds $47 million of ETH and wBTC each to celebrate Trump’s inauguration
Donald Trump-backed DeFi platform World Liberty Financial (WLFI) added $47 million of wrapped Bitcoin (wBTC) and Ethereum (ETH) each to celebrate Trump’s inauguration as the 47th President of the United States on Monday.
Top 5 made in USA altcoins tackle uncertainty on Trump’s return: XRP, Solana, Cardano, Chainlink, Avalanche
Crypto market capitalization of altcoins developed in the U.S. crossed $544.15 billion on Wednesday, January 22. Among cryptocurrencies trending in the U.S., XRP, Solana, Cardano, Chainlink, and Avalanche have gained in the past 24 hours, per CoinGecko data.
President Donald Trump plans $500 billion in AI infrastructure with OpenAI, SoftBank and Oracle
President Donald Trump announced a “Stargate” project for $500 billion in investment to advance the US AI infrastructure. The project will deploy an initial investment of $100 billion, scaling up to $500 billion, to establish advanced data centers and infrastructure in Texas.
Bitcoin: BTC rallies above $102,000 ahead of Trump’s inauguration
BTC's price continues to trade in the green, trading above $102,000 at the time of writing on Friday after rallying more than 7% this week. Recent US macroeconomic data released this week supported the rise of risky assets like BTC.
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.