Number of Shiba Inu Holders Surpass a New Milestone as There Is a Spike in Interest

Vignesh Karunanidhi
Number of Shiba Inu Holders Surpass a New Milestone as There Is a Spike in Interest
Source: Analytics Insight

With the recent rise in Shiba Inu interest, the number of holders seems to have surpassed a new milestone. Data from WhaleStats reveals that the number of SHIB holders has reached a new milestone. According to their analysis, the current SHIB holders passed the 1,200,000 milestone and currently stand at 1,200,006.

In an evaluation of the top 1,000 ETH whales, the combined Shiba Inu holdings now stand at 56,253,165,153,694 SHIB. The holdings are worth around $611 million according to the current SHIB trading price of $0.00001087.

Shiba Inu has been enjoying its fame as whale interest seems to have spiked recently. The rise in interest and the new milestone can be attributed to the number of developments that Shiba Inu is cooking for this year. The list of developments was mentioned recently by the lead developer of Shiba Inu, Shytoshi Kusama. He gave a glimpse of the updates that the team is working on, which could be one of the reasons for the rise in interest.

Additionally, in an analysis of the top 100 ETH whales, SHIB ranks third with holdings of over 494,355,422,852 SHIB. It also accounts for 15.28% of the total whale holdings.

Shiba Inu is flaming red-hot

In the past several months, SHIB burns have grown quite important. Interest has grown as a result of reducing the meme coin’s circulating supply. The burn rate was increased by 231% as a result of recent activities that took place over the weekend.

But compared to the weekly burn, there has been a drop in the burn rate in the last 24 hours. According to Shibburn, around 79,566,837 SHIB were burned in the last 24 hours, which is a 56.27% drop.

Source: Shibburn

The soaring burn rates don’t seem to have a positive effect on the price of SHIB. SHIB is currently trading at $0.00001096, a 2.33% down in the last 24 hours. It is also down 87% from its all-time high. SHIB has a long way to go and has to keep the flames burning alongside to surpass its all-time high.