During The Downturn, Cryptocurrencies Are In No Hurry To Get Rid Of Shiba Inu

The Shiba Inu cryptocurrency meme has become a fairly popular token among crypto-coins during both bullish and bearish cycles. Why? According to WhaleStats, in the context of the current bloodbath in the bitcoin and altcoin market, Shiba is being held at large addresses.

According to the total balances on the 1000 largest Ethereum wallets, Shiba Inu still remains the largest position among cryptokits worth $ 2 billion.

At the time of writing, the share of Shiba Inu remained at 8%, while smaller tokens accounted for 7.89% of all balances.

In the conditions of the fall, Shiba Inu did not become a safe haven asset and lost about 15% of its value. Compared to the main cryptocurrencies, SHIB was in the middle of the losers' table, keeping the 13th line in the overall rating of cryptocurrencies.

After the current correction, the lag of Shiba Inu from the last peep is 66%. At the beginning of the week, a rapid and unexpected rally began in the market, which led to a short-term jump in the price of the token by 40%.

SHIB is currently trading at $0.00003845 with a 9% negative yield for the day.