Following the recent price correction Shiba Inu (SHIB) significantly rallied, inducing increased accumulation from the big SHIB whales. With the 12% drop, large investors called “whales” made their move. At that point, they had already amassed about $63.7 million worth of SHIB tokens in their coffers. From June 26 to July 29, Shiba Inu had an extraordinary run. In fact, it reached its highest social value index since January.
Shiba Inu now has a market cap of $7.719 billion, down by 13.13%. At the time of writing, SHIB is trading at $0.00001313. It is down 1.63% in the last hour and 12.92% in the last 24 hours.
The recent killer price drop had SHIB falling from a seven-day peak of $0.00001594 down to a seven-day low of $0.00001304. Even with the recent downturn, on-chain data indicates that approximately 42% of SHIB holders are still making a profit. Furthermore, large volume account holders account for roughly 74% of the Shiba Inu ecosystem.
During the dip, these large holders purchased over 4.66 trillion SHIB coins for roughly $63.7 million, demonstrating strong confidence in the token's future potential. In the last 24 hours, token burning took away a total of 225,774 SHIB tokens from circulation. That’s a stunning 93.93% drop in engagement. In the last 7 days, 134,511,674 tokens have been burned which is an increase of 377.53%.
HOURLY SHIB UPDATE$SHIBPrice: $0.00001313 (1hr -1.63% ▼ | 24hr -12.92% ▼ )Market Cap: $7,719,136,447 (-13.13% ▼)Total Supply: 589,248,565,276,845TOKENS BURNTPast 24Hrs: 225,774 (-93.93% ▼)Past 7 Days: 134,511,674 (377.53% ▲)
- Shibburn
Most notably, the SHIB trading volume has exploded 15.47% up as of press time. In July, SHIB hit a “golden cross” chart pattern. This growth suggests there could be as much as a 35% increase by the end of the month. The key resistance level for SHIB is set at $0.00001558.
