Shiba Inu trillionaire addresses take advantage of the asset’s low price to increase their SHIB holdings by 17% in one month.
In an exciting development, Shiba Inu whales have been taking advantage of SHIB’s low price to increase their holdings. This is reflected in the surge of addresses holding 1 trillion to 10 trillion SHIB.
According to data from IntoTheBlock, addresses holding 1 trillion to 10 trillion SHIB recorded an increase of 17.07% over the past 30 days.
Interestingly, the balances held by these addresses also saw an uptick of 21.5% within this period. Per ITB data, addresses in this category grew the most in terms of SHIB balances and the number of holders.
Addresses Holding 1M – 10M SHIB Surge 0.14% in 30 Days
Conversely, Shiba Inu millionaire addresses holding between 1 million and 10 million tokens recorded the least growth in the past 30 days.
ITB data showed that millionaire addresses in this category only recorded a 0.14% gain within this period.
The data suggests that Shiba Inu whales seemed more confident in the token than smaller investors. These whales have been taking advantage of the major discount presented by SHIB’s low price to bolster their portfolios.
However, the same cannot be said about investors holding 1 million to 10 million SHIB tokens. At the current price of $0.00000757, 1 trillion SHIB is worth $7.57 million, while 1 million SHIB is valued at around $7.57.
Shiba Inu’s Performance in August
Many investors expected SHIB to record a significant rally following the launch of Shibarium, the cryptocurrency’s layer-2 blockchain.
In the build-up to Shibarium’s mainnet launch, SHIB surged to $0.0000114 on August 12. It subsequently plummeted below $0.00001 despite Shibarium going live on August 16.
Following the technical issues encountered by Shibarium shortly after its August 16 launch, SHIB plunged further, closing the month of August with a loss of 5.11%.
Aside from Shiba Inu, other crypto assets, including Bitcoin and Ethereum, also closed the month of August with huge losses. While Bitcoin closed August down 11.96%, Ethereum ended the month with a loss of 12%. At press time, SHIB was marginally down 0.5% in the past day to $0.00000757.