2021 has definitely been one of the craziest years the cryptocurrency industry has ever seen. dogecoin‘of (DOGE) after breaking the record Shiba Inu (SHIB) Many similar projects have entered the market. SHIB’s inclusion in the top 10 for a while had a great impact in the industry and enabled it to win many investors. Now, it is understood with a single data that investors are losing confidence.
Big Loss for SHIB Investors
Since the beginning of 2022, there has actually been a significant increase in the number of SHIB investors. For this reason, it is not known whether the last event was a long-term or one-time thing.
took a big hit in March SHIB, lost the trust of the investors and thus the number of them. Leading decentralized cryptocurrency in just 10 days 55,000 investors lost.
According to the information transmitted by CoinMarketCap, the number of wallet addresses holding SHIB decreased by 55,000 in the period from March 15 to March 25.
7 days ago, SHIB had lost 30,000 investors in just a single day. The reason for this sharp loss of investors on March 17 may be the price increase experienced by DOGE. DOGE and SHIB are generally seen as competing cryptocurrencies, and the price of DOGE has been volatile in the past few days.
On the other hand, it is a remarkable detail in the on-chain data that many SHIB whales sold their holdings and turned to APE with the emergence of Apecoin.
While the SHIB community suffered serious losses, 230 million SHIBs were burned in just the past two days. It will be clear in the coming days whether these burning transactions will bring investors back in the long run.