Shiba Inu Has Lost Over 100k Holders in The Past 120 Days

Shiba Inu Has Lost Over 100k Holders in The Past 120 Days

Shiba Inu has been among the most discussed cryptocurrencies of 2022 because of the poor performance it has been posting. For the whole of Q1, the SHIB coin has lost so much, and it is also losing in Q2. The most notable loss has been the price, but the number of holders leaving Shiba Inu is also growing fast.

In the past 120 days, Shiba Inu has lost +100k holders. This is one of the biggest losses in holders' count this year for a crypto coin in the top 15 cryptocurrencies. During the same period, the likes of Bitgert (BRISE) and Centcex have been skyrocketing, with their holders increasing by over 500%. But why would these coins record such performances? Read more below:

Bitgert

Bitgert has been one of the cryptocurrencies that have received a chunk of the +100k Shiba Inu investors that have left. The project has been attracting investors because of the powerful products the Bitgert team is building. The project saw its holders' count increase by a massive percentage after the launch of its powerful Bitgert BRC20 blockchain. In fact, Bitgert price hit a new ATH immediately after the BRC20 was launched.

The Bitgert blockchain has been receiving massive adoption because of the zero-gas fee mechanism. Everyone wants to enjoy the $0.0000000000001 gas fee and also the 100k TPS the chain is offering. In addition to that, the 1000+ project that the Bitgert team is adding to the chain in the next 365 days is attracting investors.

Centcex

Centcex has also been one of the cryptocurrencies growing its holders' number fast when Shiba Inu was losing. The Centcex coin has already proven itself by being one of the best performing crypto projects of 2022 after posting one of the best price increments. In fact, Centcex is one of the cryptocurrencies that almost outperformed Bitgert in the price-performance during Q1 2022.

There are several factors that make the Centcex project stand out from the rest of the cryptocurrencies. But what is catching crypto investors' attention is the huge number of products the Centcex team is developing for this ecosystem. The expected skyrocketing Centcex price and huge staking rewards are the reasons crypto investors are joining this project.

Shiba Inu

Shiba Inu has continued to disappoint its investors because of the fast-dropping price, market, and also losing ranks in the list of the top cryptocurrencies. But the most important thing that tells Shiba Inu is dying is the dropping number of holders. A +100k investors have left the project.

This is an indication that many investors are now leaving Shiba token, which is why the coin has been doing badly. The lack of utility is the biggest problem that Shiba Inu is struggling with. In fact, this is a project that has no specific project that would keep the hype growing. That's why investors are finding no reason to keep holding SHIB, yet there are attractive projects like Bitgert.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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