The number of Shiba Inu (SHIB) held by “whales,” known as the market’s deep-pocketed investors, dropped significantly on the day of Shibarium’s highly anticipated public beta launch.
As we reported yesterday shiba inuShytoshi Kusama, the lead developer of Shibarium, announced that the beta test of Shibarium is live. announced. The famous developer said that the first beta test of Shibarium Network will be called ‘Puppynet’.
Currently, the largest holders of the token hold 250.66 trillion SHIB, excluding the dead address used for burning. There are 14 of these deep-pocketed investors, and their 250 trillion meme coins account for more than a quarter of the initial supply and almost half of the total supply (not counting the burn address).
40 Wallets Have 122 Trillion SHIB
However, unlike the aforementioned group, 40 different addresses also hold about 12.36% of the total SHIB, according to IntoTheBlock. These SHIBs are equivalent to 121.52 trillion meme coins. But here’s the highlight: investors in this group started Monday with 123.16 trillion in meme coins, then dumped some in the middle of the week and later bought back 10 trillion Shiba Inu tokens.
Unlike these two groups, the data also shows that retail investors dumped 230 billion SHIB at the Shibarium launch date. Moreover, this group represents the second largest group of SHIB holders with a total of 200.7 trillion meme coins.
The launch of Shibarium was a remarkable day for the ecosystem and it seems that investors welcomed the launch with less SHIB than the previous day. Shibarium is currently expected to operate in three phases. These are the beta phase, the mainnet development phase, and the official mainnet release.
You can check the price movements here.