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Total number of holders of popular meme coin SHIB reaches a historic high
According to X user @Etherscan_SHIB, the total number of on-chain holders of Shiba Inu, the second-largest meme cryptocurrency, has significantly increased.
The tweet reported that on June 7, this key indicator for SHIB reached a historical peak of 1,510,290 - "the highest ever!" The tweet stated, "SHIB continues to grow with an unstoppable momentum."
Compared to the last week of May, the number of new holders increased by slightly over 3 million, while the indicator was 1,507,310 on May 24.
Tens of trillions of SHIB flow into Coinbase this week
According to the popular blockchain tracker Whale Alert, this week, three massive transfers totaling over 20 trillion SHIB were moved to Coinbase Institutional, the institutional branch of the major US cryptocurrency exchange.
11 hours ago, the platform received a transfer of 2,542,712,471,794 SHIB, valued at $31,651,684. On June 5, 2,869,483,918,550 SHIB (worth $36,603,136) was deposited into the same exchange. In the days prior, a similar amount of SHIB was transferred to the exchange, bringing the Shiba Inu amount at Coinbase Institutional to around 7.5 trillion this week.
These three transactions all came from wallets marked as unknown by Whale Alert. Since the destination of these transactions is Coinbase Institutional, it is likely that a crypto whale is preparing for a large-scale sell-off and deciding to significantly reduce their SHIB position.
