During the recent crypto crisis, the number of companies owning popular memecoin Shiba Inu (SHIB) reached new highs, as prices fell to favorable levels.
However, the token’s whale holders dropped dramatically, indicating that the largest crypto investors are losing faith in the memecoin.
SHIB increased by 16,482 holders
The total market valuation of meme tokens has dropped 2% in the last day to $18.8 billion. In the last seven days, the price of SHIB tokens has dropped by 27%. The total value of top Ethereum (ETH) whales’ Shiba Inu holdings has likewise dropped to $566 million. The SHIB token has fallen to third place in terms of holdings after a recent price drop and uncertainty.
Meanwhile, SHIB holders have made significant gains. The Shiba Inu token was held by over 1.14 million wallets during the market crisis that began on May 8, 2022. However, as the crypto industry crackdown intensified, the number of SHIB holders increased. The SHIB cryptocurrency was held by 1,162,394 wallets as of May 16, 2022. During the recent market crash, the meme token gained 16,482 new holders. However, the all-time high (ATH) wallets holding SHIB are 1,180,140.
The official burn portal burned 28.4 billion SHIB
In the last 24 hours, the total market value dropped 2.20% to $1.27 trillion. Shiba Inu prices have dropped 3% in the last 24 hours, trading at an average price of $0.000012. With the recent drop in the SHIB price, the number of holders has increased.
In the meantime, the Shibarmy has burned around 450 million SHIB tokens in the last 24 hours. However, since its creation, the official Shiba Inu burn page has sent over 28.44 billion Shina Inu tokens to a dead wallet.
The MILKSHAKE earlier revealed that the much-anticipated Shibarium, which will be released shortly, will be similar to the Polygon in terms of operability, scalability, and security.
