While the number of Shiba Inu (SHIB) coin holders has been steadily increasing over the last three months, the decentralized token just saw a significant loss of over 32,000 holders in a single day.<\/p>\n
According to CoinMarketCap data, the number of SHIB holders decreased by 32,832 on Friday, following a steady three-month climb.<\/p>\n
Between March 17 and 18, the number decreased from 1,199,452\u00a0to 1,166,620. Figures show\u00a0earlier this month that the volume of Shiba Inu token on-chain transactions has decreased for the fourth consecutive month.<\/p>\n
Between January and February 2022, this number decreased by 9.27%, from 283,267\u00a0to 257,002.<\/p>\n
Shiba Inu Keyword Search Down<\/h2>\n
Additionally, Google interest in the keyword \u201cBuy Shiba Inu coin\u201d\u00a0has been declining, with the Google Trends score dropping from 100 on November 30, 2021, to only 3 on February 28, implying a 97%\u00a0decline in interest during this period.<\/p>\n
Shiba Inu coin \u2014 created anonymously in August 2020 under the pseudonym \u201cRyoshi\u201d as the \u201cDogecoin Killer\u201d \u2013 shed 4,222 addresses from 1,161,661 to 1,157,437, ending a three-month increase in holders that unfurled in November.<\/p>\n
Related Article | Stablecoins Now At $187 Billion, UST And USDN Volume On The Rise<\/a><\/em><\/strong><\/p>\n According to analytics platform IntoTheBlock, 95% of holders of SHIB have held the stock for between one and 12\u00a0months, showing a bullish long-term mood, while short-term sentiment is gloomy.<\/p>\n Almost 80% of all SHIB in circulation are held by individuals with a net worth of $100,000 or more.<\/p>\n The first signs of declining interest in Shiba Inu emerged in early February, when the meme cryptocurrency lost over 4,000 holding addresses between January 28 and February 3, 2022.<\/p>\n The decline in interest could signal that cryptocurrency traders are reducing their exposure to a risky asset.<\/p>\n SHIB\u2019s risk stems from the fact that the smart contract code underlying the DEX is publicly accessible, in contrast to Bitcoin and Ethereum, which both have publicly accessible codebases.<\/p>\n<\/p>\n
SHIB total market cap at $13.34 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n
Crypto Traders Losing Interest In Risky Assets<\/h2>\n