The Shiba Inu token has finally shown the sharpest volatility since November 2021. token price spiked reached the pre-correction level and peaked at $0.0000035.
Earlier, U.Today reported that the Shiba Inu has returned to the top of the most valuable asset among whales, which is confirmed by the rapidly rising value of whale holdings that currently stand at $1.8 billion.
The asset’s profitability has also increased to over 52%, from around 20-30% earlier. The increase in profitability confirms that most of the entries in SHIB were made between 0.000025 and 0.000030, as the largest portion of positions in the market were flipped positively.
According to the crypto market heatmap, during the correction that began in late 2021, most assets have entered a strong rally rally with their values rising by up to 50%, while losing at least 30%.
In addition to the market recovery, the core background of the project moves to the next level as the team behind the project adds multiple use cases to the token, such as the previously announced Shibbers metaverse, the opening of a fast food chain, and more.
According to the holder structure on the token, most short-term investors flip to mid-term holders who hold assets for their fundamental value rather than chasing speculative profits.
Shiba Inu whales follow the same pattern, as most of them have been holding assets since the start of the correction in November. According to WhaleStats, many addresses were actively buying SHIB as it was constantly losing value. The profitability of their investments remains unknown.