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Shiba Inu ($SHIB) Number of Address Holders Drop As Crypto Market Declines

The number of Ethereum addresses holding the cryptocurrency Shiba Inu ($SHIB) is dropping. Notably, this is the first time in months it’s happening, as the cryptocurrency market declines, losing over $300 billion in value.

Also, as per information from Ethereum blockchain explorer Etherscan, there are currently 981,163 addresses holding SHIN. Of course, this number represents a notable decrease from the 992,900 holders of Shiba earlier this month.

More so, the price of SHIB starts dropping as the prices of most other top cryptocurrencies are seeing a decline. Especially, after BTC price drops below the $60,000 mark. However, there’s a slight recovery for Shiba Inu after the market shows greens in the last few hours.

Furthermore, the number of addresses holding Shiba inu surpasses 900,000 roughly a week after hitting the 800,000 mark. Of course, indicating an interest in SHIB the time.

However, this number shows only the addresses on the Ethereum blockchain and not individual holders. That’s, One Shiba Inu holder can hold dozens of addresses. Then, another address can have the funds of thousands of holders if they hold their funds on an exchange.

Lastly, The Shiba Inu investor who using $8,000 to get $5.7 billion at one point. For example, it has recently moves its stash to a number of wallets.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.