The number of Shiba Inu millionaires has dropped below 1,000 as the recent market crash affects holder profits. According to on-chain data, only about 2,470 addresses hold $10,000 to $10 million worth of SHIB tokens, controlling over $3.5 billion in value. The decline is attributed to a broader market crash impacting meme coins like SHIB and DOGE.
The number of high-value holders has plummeted to 1,059 addresses holding $100,000 to $1 million in SHIB, while mid-value holders have decreased to 880.25 addresses with $1 million to $10 million worth of tokens. These deep-pocketed investors collectively control a significant portion of the meme coin’s supply.
Despite this decline, Shiba Inu remains resilient and attempting to break through the bearish trend. The price has increased by over 9.8% in the past week, reflecting gains despite major market declines that pushed its price down by more than 20%. At press time, the price is trading at $0.0000165, still showing a 1% increase according to CoinMarketCap’s data.
Source: https://www.newsbtc.com/shiba-inu/shiba-inu-millionaire-below-1000