Shiba Inu Dominates the Crypto World with 1.28M Active Holders

Top holders own the majority of SHIB tokens, leading to a recent increase.
SHIB’s price increases slightly with bullish market sentiment.
As the technical indicators indicate, the bullish wave will likely continue in the SHIB market.

Shiba Inu cryptocurrency, also known as SHIB, has continued to attract investors and has also seen a rise in popularity in the cryptocurrency market over the past few years. As of the latest report, the number of current SHIB holders has reached 1.28 million, reflecting a growing interest in the meme-inspired coin.

$SHIB Current Holders 1.28 Million pic.twitter.com/fMZQZtXUwg
— $SHIB KNIGHT (@army_shiba) April 8, 2023

The increasing number of SHIB holders can be attributed to the coin’s growing popularity among the crypto community. Many investors are drawn to SHIB because of its low value, which allows them to invest small amounts of money and potentially reap significant profits if the coin’s value rises.

Based on data from CoinMarketCap, the number of active addresses for Shiba Inu holders in the past 24 hours is 14,645. The recent increase in SHIB market holders has been linked to the top 100 holders, with the top 10 holding 61.36% of the SHIB token, the top 20 owning 69.47%, the top 50 possessing 77.99%, and the top 100 having 80%. There have been 14,645 active addresses of people who own Shiba Inu in the last 24 hours.

Over the last four days, there has been a steady increase in the number of SHIB holders. On April 4th, the number of holders reached its lowest point at 1282K, but as of the time of writing, the number has increased to 1285K. These recent statistics suggest that the number of SHIB holders has been consistently hovering around the 128K mark.

In the last 24 hours, Shiba Inu’s price has increased by 1.04% and is currently sold for $0.00001098. There is a support level of $0.00001085 and a resistance level of $0.00001106. However, the trading volume for SHIB has decreased significantly by 40.28% and is now at $112,970,980.

Recent Shiba Inu Technical Analysis

According to the 24-hour price analysis of Shiba Inu, there is bullish sentiment in the market. This can be observed by the Moving Average Convergence Divergence (MACD) line, which is currently above its signal line. This suggests that the bullish momentum is expected to continue. However, traders should remain cautious and closely monitor the support level at $0.00001085. A break below this level could lead to a bearish trend reversal.

Furthermore, the positive trajectory histogram is also an encouraging sign for traders and investors. The positive trend will likely continue over the coming hours. Therefore, traders should carefully consider these factors when making investment decisions in Shiba Inu.

Based on the Relative Strength Index (RSI) line reading, the bulls dominate the Shiba Inu market. This is because the RSI indicator is currently moving above its Simple Moving Average (SMA), a positive sign for the market. This suggests that the current bullish trend may continue shortly.

However, it is essential to note that there is also some neutrality in the market, as the RSI reading is at 49.75. This means the cryptomarket is not firmly favoring the bulls or the bears.