Whales control 25% of SHIBA's total supply

by in Cryptocurrency News


The Shiba Inu (SHIBA) token has soared in price by more than 45% to $0.0000338 in the last 24 hours. The capitalization of this cryptocurrency is approaching $19 billion.

SHIBA turned out to be one of the top-performing altcoins. The crypto market is gaining amid the resumption of capital inflows into risky assets.

Another joke digital currency Dogecoin (DOGE) is also growing in value. Its rate on the night of Tuesday, February 8, reached $0.165.

According to the WhaleStats platform, which analyzes whale activity on Ethereum, the largest investors continue to buy SHIBA coins.

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Now 100 whale wallets control more than 25% of the total altcoin market supply.

Last week, the two largest addresses acquired 6.11 billion and 1.087 billion tokens. Two more whales bought 28 billion Shiba Inu each.

According to the forecasts of many experts, SHIBA will soon win back the losses incurred as a result of the December and January sales.

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After breaking through the resistance around $0.00026, the coin has entered a new phase, which could result in a retest of the peaks.

Recall that on October 27, 2021, SHIBA reached a historical maximum in the region of $0.00008.