In just 24 hours, the number of SHIB holders has dropped by 30,000. At the same time, holders of bitcoins (BTC) have added more BTC to their portfolios. All of these events are taking place at the same time as interest in the respective currencies appears to be waning.
There has been a significant drop in the number of SHIB holders.
After a three-month period of steady growth, the number of SHIB holders fell to 32 832 on March 17th. The number of unique addresses on the network increased from 1 199 453 to 1 166 621 during March 16 and 17. For the fourth month in a row, there has been a decrease in the number of chained transactions on the network. From January to February 2022, it increased from 283 268 to 257 003.
According to Google Trends, the number of people searching for "Buy Shiba Inu coin" has dropped from 100 on November 30, 2021 to 3 in February, 2022. SHIB lost 4 223 addresses between January 28 and February 3, 2022, ranging from 1 161 662 to 1 157 438. This brought an end to an increase in the number of addresses that began in November.
According to IntoTheBlock, 95% of hodlers had SHIB between the ages of one and twelve months. Furthermore, a whopping 79 percent of all SHIBs in circulation are held by wealthy individuals with bank accounts worth $100,000 or more.
The drop in interest for SHIB might indicate that cryptocurrency investors have decided to restrict their exposure to a riskier asset. There is now a risk associated with investing in the SHIB. This is not the case with Bitcoin and Ethereum, which are now more secure.
Investors are turning their attention to bitcoin (BTC)
It has been discovered that long-term holders of bitcoin have accumulated bitcoin. On March 17, 2022, the entire amount detained was estimated to be 11,7 million bitcoins (BTC). SHIB has lost almost 30 000 users in the last 24 hours. This might indicate that long-term investors are placing their bets on BTC rather than SHIB.
Despite the fact that SHIB has seen a significant drop in price from its all-time high on October 28, 2021, the Turkish Economy Minister has expressed interest in it. The minister was debating the SHIB's adoption with a member of Turkey's "SHIB army" and other Turkish lawmakers at the time.
Recently, there has been a significant drop in interest in the SHIB. This resulted in a 30 000 drop in the overall number of holders of this cryptomonnaie in just 24 hours. At the same time, the number of bitcoin investors has increased.
Source : BeInCrypto
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