Shiba Inu reaches new milestone amid falling prices

According to shibeanuartThe Shiba Inu community-focused Twitter account, Shiba Inu has surpassed 1,190,350 holders. Despite the recent price drop, the number of Shiba Inu holders continues to grow. According to WhaleStats, the number of SHIB holders has risen to a new high of 1,191,766 at press time.

The recent increase suggests a growing community, which remains a healthy sign. While an increase in holders may not necessarily affect the price in the near term, it could indicate interest in the coin in the long term. At current prices, the Shiba Inu is down 89% from an all-time high of $0.000088 in October 2021.

According to on-chain analytics company Santiment, most crypto assets have reached historical MVRV levels, or “pain” limits in their trading returns. It notes that, generally, this is where price changes can be predicted to minimize current losses, although it is difficult to predict when this will happen.

The recent drop in prices isn’t deterring large Shiba Inu investors from hoarding at a discount, as the SHIB now makes up the largest portion of their holdings.

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Shiba Inu now largest holding of top 100 whales

Shiba Inu has become the biggest holding for the top 100 ETH Whale, flipping the stablecoin USDC. These top whales now own 512,650,353 SHIB, in which they hold 16.24%.

according to Shibburn Twitter Handle, over 155,008,973 SHIB tokens have been burned since the last day, and 23 transactions have been done. At the time of publication, this figure had risen to 212,566,691 SHIB, with the burn rate showing an increase of 97.68%, as seen on the Shibburn website.

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SHIB saw a significant decline on June 18 and reached a low of $0.0000071. On June 26, the price reached a high of $0.000012 but SHIB was unable to sustain the bearish activity in the market.

Shiba Inu price is slightly lower at the current price of $0.000009 as the cryptocurrency market is still rocked by a lot of selling pressure.



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