Shiba Inu’s Increased Usage Pumps Active Whale Addresses by 44%

Vignesh Karunanidhi
Shiba Inu’s Increased Usage Pumps Active Whale Addresses by 44%
Source: Analytics Insight

The global rise in Shiba Inu’s usage notably increased the number of active whale addresses by more than 44%. WhaleStats analytics reveal that there has been a rising interaction of whales with SHIB yesterday that caused the number of active addresses to spike.

WhaleStats announced yesterday that SHIB had been one of the most used smart contracts among the top 2,000 Ethereum whales. The number of SHIB holders now stands at a total of 1,178,315.

Shiba Inu is back in the top 10 trading volume

As per another detailed analysis by WhaleStats, comparing the 500 biggest ETH whales in the last 24 hours, Shiba Inu regained the position in the top 10 by trading volume.

Shiba Inu is making its name known through the meme token universe’s expansion, but this digital asset quickly pushed to make SHIB usable. Because of the strong community support, several famous retailers have included SHIB in their payment lists, and it now has the broadest backing conceivable.

The latest giant to implement SHIB to its payment list is Edge, a non-custodial wallet with the integration of BitPay. The rise in adoption has also witnessed a number of large exchanges listing Shiba Inu.

Shiba Inu has been listed on 116 crypto exchanges as of today. The demand for SHIB has not reduced. Thus, the numbers are expected to rise even more. Six different firms throughout the world stated in January 2022 that Shiba Inu would be listed on their platforms. SHIB was accepted by two crypto exchanges in February 2022.

The most notable listing happened in April when Robinhood revealed that Shiba Inu would be listed on their platform, causing a frenzy among its investors. The whole market seems to be bleeding now, which is not different for SHIB. It is currently trading at $0.000009366 at the time of writing. It is an 89% drop from its all-time high of $0.00008845.