The Shiba Inu (SHIB) balance under the control of large holders continues to grow even bigger. According to WhaleStats, an Ethereum whale acquired 53 billion SHIB tokens worth $2,008,890 to its crypto stash. At the moment, the average SHIB balance in possession of its largest 100 holders is now up by 8%. Meanwhile, the price of SHIB is up by approximately 7% across the last 24 hours. This is chiefly due to general positive investor sentiment stemming from this holiday period. Currently, SHIB’s net flow has also increased by 629%.
On December 20th, Shiba Inu surged from $0.00002820 to reach a high of $0.000040 today. However, the crypto ended up retracing slightly to its current level of $0.00003850 and is still down by 60% from all-time highs.
Although the whales are integrally responsible for the most recent SHIB price surge, the Shiba Inu network also boasts over 85,293 new users. In addition, it is continuing to grow steadily and has a current number of about 1,085,293. The Shiba Inu network surpassed the million-dollar mark just over a month ago.
Meanwhile, as far as market cap for crypto goes, Shiba Inu ranks 13th with $21.05 billion, according to reports. The token is a direct rival to Dogecoin (DOGE), as both share canine-themed motifs.
Image Credits: Pixabay
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