Number of SHIB transactions drop to 14-month low as 72% of holders in a loss
Meme cryptocurrency Shiba Inu (SHIB) has recorded a drop in the number of transactions highlighting the fading hype around meme coins as the general market battles volatility. In May, SHIB’s total number of transactions stood at 207,647, the lowest value in the last 14 months, according to data from blockchain analytics website bloxy.info.
The drop in transactions has aligned with the downward trajectory recorded in recent months. In this line, between January 2022 and May 2022, the transaction plunged by over 26%. Over the last 14 months, the highest transaction was recorded in October last year at 1.38 million. The peak transactions for the period emerged at the height of the crypto bull run, culminating in Bitcoin hitting an all-time high of almost $68,000 in November.
Source
@Doge_ShibaInu
