The digital asset based on shiba inu memes entered the top ten largest crypto assets by market cap, taking dogecoin down a notch. In the past 30 days, the shiba inu token has climbed 976%, capturing a market cap of over $ 40 billion. Meanwhile, the concentration of shiba inu whales is still quite large these days, alongside the massive circulating supply of 549 trillion tokens.
Shiba Inu hits record prices to overthrow the Dogefather
This week, the shiba inu crypto asset (SHIB) has hit an all-time high (ATH) a few times, including today, during early morning trading sessions. SHIB’s ATH was around $ 0.00008616 and then the value then fell 11% below the high. SHIB’s market valuation soared to $ 40 billion and allowed the shiba inu token market to enter the top ten for crypto assets. Shiba inu also managed to drop the dogecoin (DOGE) a notch from ninth to tenth position.
SHIB is mostly traded with tether (USDT) these days as the USDT commands over 76% of all SHIB trades in the past 24 hours. SHIB / USDT pairs are followed by BUSD (13.13%), TRY (4.96%), EUR (3.10%) and USD (0.84%).
The main SHIB exchange today is Binance, followed by Huobi Pro, Okex, Coinbase and Poloniex. While BTC’s trading volume is around $ 45 billion on Thursday, SHIB’s is just a hair’s breadth less with $ 41 billion in 24-hour trading across the globe.
Concentration of Shiba Inu whales 75% for 20 unique addresses
Meanwhile, there are a lot of SHIBs in circulation, even after Vitalik Buterin distributed 1,000 billion tokens and the deflationary characteristics of the network. Today, there are 549 trillion SHIB tokens, which is far from rare like other crypto assets such as bitcoin. Bitcoin’s whale concentration is much lower as the rich list is around 14.65% while the rich list of SHIB is shockingly different. The concentration of BTC by large holders, according to Into the Block statistics, is only 11%.
According to data from coincarp.com, 10 holders accumulate 71.90% of the circulating supply. Out of 838,305 unique addresses (holders), 20 holders order 75.95% of the offer. As the circulating supply of BTC on Wednesday is 18,856,937, it is much smaller than the 549 153 115 436 361 SHIB existing today. The top 100 SHIB holders out of the 838 305 hold 80.48% of the SHIB supply.
What do you think of the fact that SHIB is among the top ten digital currencies by market cap and takes dogecoin down a notch? What do you think of the concentration of SHIB with the large holders? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, coincarp.com, Coingecko, tradingview,
Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.