SHIB holding addresses is higher than Nashville’s 1.33 million population

Shiba Inu (SHIB) is one of the most popular memecoins in the cryptocurrency market. Ranked among the top 20 most valuable cryptocurrencies, SHIB has earned the attention of millions of investors.

Currently, there are a total of 1,366,587 Ethereum addresses holding SHIB, an ERC-20 token. These addresses hold 999.98 trillion tokens, of which a burn address keeps 41% and, therefore, out of circulation.

Shiba Inu top 100 token holders. Source: Etherscan

This amounts to a relevant number of holding addresses despite not knowing the exact amount of individual holders. Interestingly, one single individual can own multiple addresses. At the same time, one single address can hold SHIB for multiple investors — as in centralized exchange addresses or DeFi smart contracts.

Nevertheless, its relevancy is still notable, knowing this number is higher than Nashville’s 1.33 million population. Nashville is the 40th largest city in the United States and the capital of Tennessee. The aforementioned population data is from MacroTrends and was updated in 2024.

United States largest cities. Source: MacroTrends

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In the meantime, 62% of the 1.36 million SHIB holding addresses are ‘out of the money,’ according to IntoTheBlock. Only 22% currently hold profits, and 15% of all addresses face a breakeven position.

However, 76% are holding SHIB for over a year and are considered long-term holders.

SHIB holding addresses stats. Source: IntoTheBlock

The token is changing hands by $0.000010 at the time of publication, losing 9.6% of its price value in the last 24 hours. Now, investors wonder what is next for SHIB and if it will manage to keep its observed growth from past years.

It is important to understand that, without a clear value proposition and organic demand for Shiba Inu, the token might face challenges moving forward. Especially if the current holding addresses decide to end their SHIB positions in 2024.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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