Business & Economy

Shiba Inu Takes Off By Taking Dogecoin Down A Notch

Shiba Inu Soars Knocking Dogecoin Down a Notch – 20 Holders Own 75% of the SHIB Supply – Dogecoin has been knocked down a notch by the meme-based digital asset shiba inu, which has joined the top ten largest crypto assets by market capitalization. The shiba inu cryptocurrency has grown 976 percent in the last 30 days, reaching a market cap of nearly $40 billion. Meanwhile, the shiba inu whale population is still relatively high, despite the vast circulating quantity of 549 trillion tokens.

Shiba Inu Taps All-Time Price Highs Knocking Down the Dogefather
This week the crypto asset shiba inu (SHIB) reached an all-time high (ATH) on a few occasions, including today, during the early morning trading sessions. SHIB’s ATH was around $0.00008616 and then the value subsequently dipped 11% below the high. SHIB’s market valuation has soared to $40 billion and it has allowed the shiba inu token market to enter the top ten crypto assets. Shiba inu managed to knock dogecoin (DOGE) down a notch as well from the ninth position to the tenth.

SHIB is mostly traded with tether (USDT) these days as USDT commands over 76% of all SHIB’s trades during the last 24 hours. SHIB/USDT pairs are followed by BUSD (13.13%), TRY (4.96%), EUR (3.10%), and USD (0.84%).

The top SHIB exchange today is Binance followed by Huobi Pro, Okex, Coinbase, and Poloniex. While BTC’s trade volume is around $45 billion on Thursday, SHIB’s is just a hair lower with $41 billion in 24-hour swaps across the globe.

Shiba Inu Whale Concentration 75% for 20 Unique Addresses
Meanwhile, there’s a whole lot of SHIB in circulation, even after Vitalik Buterin gave away 1 trillion tokens and the network’s deflationary features. Today there are 549 trillion SHIB tokens in existence, which is far from being scarce like other crypto assets such as bitcoin. Bitcoin’s whale concentration is far lower as the rich list is around 14.65% while SHIB’s rich list is shockingly different. BTC’s concentration by large holders, according to Into the Block stats, is only 11%.

According to’s data, 10 holders are hoarding 71.90% of the circulating supply. Out of 838,305 unique addresses (holders), 20 holders command 75.95% of the supply. As the circulating supply of BTC on Wednesday is 18,856,937, it is much smaller than the 549,153,115,436,361 SHIB in existence today. The top 100 SHIB holders out of the 838,305 own 80.48% of the SHIB supply.


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