Shiba Inu scores massive 1.3M holders amid coming up Shibarium

• Since the beginning of 2023, Shiba Inu added a total of 25,813 SHIB holders to the ecosystem.
• The Shiba Inu burn rate has skyrocketed by 10,000% in the last 24 hours and is supported by strong whale transactions.

Ever since the beginning of 2023, the world’s second-largest stablecoin Shiba Inu (SHIB) has been on the radar of the entire crypto trading community. In the latest development, Shiba Inu has touched a new milestone with nearly 1.3 million total SHIB holders.

Since the start of 2023, the Shiba In ecosystem added a total of 25,813 holders. This goes to show that the crypto investors’ community is flocking to Shiba Inu (SHIB) in search of an attractive investment opportunity. This comes as the Shiba Inu Army is gearing up for the launch of the Layer-2 scalability solution Shibarium.

As per the ongoing plans, the Shibarium launch shall happen next week on February 14 on the Ethereum mainnet. The Shibarium launch aims to improve the scalability prospects for the Shiba Inu ecosystem while keeping gas costs lower.

The total number of Shiba Inu holders is currently 1,300,815 with daily active addresses of around 14,645. Of the total 1.3 million SHIB holders, over 64% of them have held their SHIB coins for at least a year, as per IntoTheBlock. Also, nearly 32% of the SHIB holders have held their tokens for a period between 1 month and 12 months. The other 4% of the SHIB holders have held them for less than a month.

However, the SHIB token supply remains largely polarized. The top 10 addresses hold a staggering 60% of the SHIB’s total supply. Similarly, the top 100 addresses hold a total of more than 80% of the total supply. However, these figures also include the dead addresses dedicated toward SHIB token burning which hold 41% of the supply.

Also, additional stats suggest that 54% of the total SHIB holders are under losses at the current SHIB price. 45% of them are in profit and just 1% are at a breakeven point.

SHIB Burn Rate and Whale Transactions

During the last 24 hours, Shiba Inu’s SHIB burn rate has skyrocketed by a staggering 10,109%. This sudden surge in the burn rate comes as the Shiba Inu community collectively destroyed 20,929,491 (20.92M) SHIB through four individual transactions.

In the past 24 hours, there have been a total of 20,929,491 $SHIB tokens burned and 4 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy

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— Shibburn (@shibburn) February 8, 2023

Although there’s no particular reason for the spike in the burn rate, the jump is unprecedented considering that only a very small percentage of tokens i.e. 205,000 were burned the previous day on February 7. However, data from Etherscan.io also shows that a massive 19,400,000 (19.40M) SHIB moved to a dead wallet in a single transaction.

Also, the Shiba Inu (SHIB) whale activity has increased significantly over the last month. There’s a sharp surge in SHIB whale transactions worth $100K and more over the last month.

🐳 Three of the more polarizing assets in #crypto, #Cardano, #ShibaInu, and #Hex, are seeing big spikes in large whale transactions. When $100k+ transactions spike on a network, it historically is associated with upcoming price shifts. Monitor closely. 👀 https://t.co/KG0mTWH11y pic.twitter.com/PHI9NOaxbn

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