32,000 Shiba Inu owners have abandoned the 'Dogecoin Killer'

While the number of Shiba Inu (SHIB) coin holders has consistently increased over the last three months, the decentralized token recently lost over 32,000 holders in a single day.

32,000 Holders Lose Interest In The ‘Dogecoin Killer’
Shiba Inu

Following a steady three-month rise, the number of SHIB holders fell by 32,832 on Friday, according to CoinMarketCap data. The number fell from 1,199,452 to 1,166,620 between March 17 and 18.

The volume of Shiba Inu token on-chain transactions has decreased for the fourth month in a row, according to data released earlier this month.

This number fell by 9.27% between January and February 2022, from 283,267 to 257,002.

Down the page, you'll find a list of Shiba Inu keywords

Furthermore, Google interest in the keyword "Buy Shiba Inu coin" has been plummeting, with the Google Trends score dropping from 100 on November 30, 2021, to only 3 on February 28, signifying a 97% loss in interest over this time period.

Shiba Inu currency, which was launched secretly in August 2020 under the pseudonym "Ryoshi" as the "Dogecoin Killer," lost 4,222 addresses, dropping from 1,161,661 to 1,157,437, bringing the three-month growth in holders to an end.

According to IntoTheBlock, 95% of SHIB stockholders have held the stock for one to twelve months, indicating a bullish long-term outlook, while short-term sentiment is bearish.

Individuals with a net worth of $100,000 hold about 80% of the SHIB in circulation.