• Shiba Inu has hit a massive milestone with 1.3 million SHIB holders ahead of the upcoming Shibarium launch.
• The burn rate for SHIB tokens has increased by 10,000% in the last 24 hours, which is supported by strong whale transactions.
• Of the total 1.3 million SHIB holders, around 64% have held their coins for at least a year and 32% have held them between one month and 12 months.
Shiba Inu Hits Milestone Ahead of Shibarium Launch
Shiba Inu (SHIB) has been gaining immense traction since the start of 2023 and recently achieved a new milestone with nearly 1.3 million total SHIB holders in its ecosystem. The Shiba Inu Army is now gearing up for Layer-2 scalability solution called Shibarium launch which is scheduled to take place on February 14 on Ethereum’s mainnet.
SHIB Burn Rate Skyrockets
The burn rate for SHIB tokens has skyrocketed by 10,109% in the last 24 hours as the community collectively destroyed 20,929,491 (20.92M) SHIB through four individual transactions. This shows that investors are flocking to Shiba Inu (SHIB) in search of attractive investment opportunities ahead of the Shibarium launch.
Holders Statistics
Of the total 1.3 million SHIB holders, over 64% have held their coins for at least a year while 32% have held their coins between one month and 12 months period. Additionally, 4% of all SHIB holders have held them less than a month while 54% are currently under losses at current market prices and 45% are in profits with only 1% being at breakeven point.
Polarized Token Supply
The token supply remains highly polarized as top 10 addresses hold 60 %of total supply while top 100 accounts hold 80%. This figure also includes dead addresses dedicated towards token burning which holds 41%, indicating that it is an important part of tokenomics driving ecology growth within network participants’ base .
Conclusion
Overall, Shiba Inu’s impressive performance ahead of its Layer- 2 scalability solution launch indicates that it could be an attractive investment opportunity for crypto investors looking to diversify their portfolios into DeFi space assets