Shiba inu, which is known for Dogecoin killer now have more than 1 million holders.
Currently, Shiba Inu whales are holding more than $2.3 billion worth of tokens. Previously, the same amount of token was valued at approximately $1.8 billion.
The strong buying activity coming from whale addresses appeared a couple of days ago when the cryptocurrency market started to recover from a 15% correction.
? BREAKING: Top 1K ETH richlist now hodl 48,004,861,881,545 $SHIB ($2,376,356,727 USD)
? #ShibArmy #friendshib The King is coming back stronger than ever!
Source: https://t.co/28TDZ70IkD pic.twitter.com/U6ubAXV5eg
— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) November 30, 2021
Earlier whale-tier addresses got rid of more than $300 million worth of tokens, which was a smart move since Shiba Inu lost more than 10% of its value right after that.
As usually happens after a correction, buying power slides into the market, which then leads to a swift recovery like the one that we witnessed on Shiba Inu today.
The average position of SHIB whales has increased by more than 40%, which may have been the first signal of accumulation started on the largest addresses.
The current rally on the Shiba Inu market is slowly accelerating. In the last 24 hours SHIB token increases about 12.32 percent and in the last seven days Shiba gained 15.20 percent according to the CoinMarketCap data.
In addition to strong market performance, retail crypto traders are slowly entering SHIB, with its volume having drastically increasing to $3.6 billion, which is almost a 100% increase compared to previous trading days, when the average volume on SHIB pairs was at 12-13 trillion tokens.
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