SHIB rose 10% in a single day, and retail investors' holdings hit a record high

区块链田颖 · 2023-08-09T08:57:19.000Z

Last month, the meme-inspired cryptocurrency Shiba Inu (SHIB) saw a stunning spike in price, soaring more than 30%. This meteoric rise not only captivated the crypto community but also propelled SHIB to new heights. The number of SHIB tokens held by retail investors hit an all-time high amid the price surge, underscoring the enthusiasm for the digital asset. It is worth noting that according to CoinMarketCap data retrieved by Finbold on August 9, the current number of SHIB tokens held by retail is 222.7 trillion, a new high compared with whale holdings.

The meme-inspired cryptocurrency Shiba Inu (SHIB) has seen a staggering surge in price over the last month, surging by more than 30%. This meteoric rise has not only captured the crypto community, but has also propelled SHIB to new heights.
Amid the price surge, the number of SHIB tokens held by retail investors hit an all-time high, highlighting enthusiasm for the digital asset.
It is worth noting that according to CoinMarketCap data retrieved by Finbold on August 9, the current number of SHIB tokens held by retail investors is 222.7 trillion, a new high compared to whale holdings.
Data shows that whales — investors who hold large amounts of cryptocurrency — still control the majority of SHIB’s supply, at more than 68%. Of the remaining 31.9%, retail investors share the distribution with other investors, with the former holding nearly twice as many tokens as the latter.
SHIB supply distribution among retail and whale investors
The increasing number of SHIB cryptocurrencies among retail investors indicates the growing interest and participation of individual investors in meme tokens.
Additionally, this trend may also indicate a growing user base, potentially reflecting increased public awareness and involvement in the asset. Additionally, it may contribute to a greater degree of fragmentation of ownership, which could affect the overall stability and dynamics of the SHIB market.
SHIB Price AnalysisAt press time, SHIB is trading at $0.000009882, up 9.38% over the past 24 hours.
SHIB price chart for the past 24 hours.
Looking at the weekly chart, Shiba Inu is up about 20% and about 30% over the past month, adding $1.4 billion to its market value during that time, even though it has only had 15 up days in the past 30 trading days.
One of the factors behind SHIB’s latest surge could be the hype surrounding the upcoming launch of Shibarium, a new layer 2 blockchain upgrade for the Shiba Inu ecosystem.
According to financial experts, Shibarium could be one of the determining factors that will push the SHIB price to $0.01, as it will make trading of SHIB-related tokens easier, in addition to several other benefits.
Nonetheless, it is still crucial to acknowledge that SHIB retains its high-risk investment status, primarily due to its classification as a meme crypto asset. Its valuation continues to be heavily influenced by social media speculation and the behavior of influential market players.