SHIB BIllionaire Addresses Drop To 0.7%
Shiba Inu is losing its backbone as the number of SHIB millionaire owners declines. According to recent evidence, this limited group is quickly dwindling. According to recent statistics, only 0.7% of SHIB holders are now SHIB billionaires. This decrease in the percentage of major holdings indicates that profit-taking is becoming a prominent trend in the SHIB market.
Surprisingly, even as the percentage of major SHIB investors declines, certain data, such as large holders’ netflow, reveal a different picture. The seven-day change in netflow of significant holders is more than 1000%, which normally indicates a rise in buying pressure.
The 30-day change, on the other hand, paints a different image, with a 22.71% reduction. Despite this roller-coaster of fluctuations, the 90-day change shows an overall upward tendency of 200% over a longer length of time.
Because of the volatility of the crypto market and the massive supply of SHIB, the actual increase in volume is significantly less important. The decrease in the number of billionaire owners and greater profit-taking behaviour indicate a shift in market dynamics, which contributes to heightened market volatility.
(With inputs from Shikha Singh)
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