In April 2025, the number of millionaires in the Shiba Inu (SHIB) market, which ranks second among meme coins by market capitalization of $7.8 billion, increased by 14.5%.
According to the IntoTheBlock platform, from April 1 to 30, the number of crypto wallets holding SHIB tokens worth at least $1 million rose from 751 to 860. The number of large whales owning coins worth $10 million or more increased by 3.2% to 64.
It is evident that two main factors contributed to the emergence of millionaires. First, in April, Shiba Inu increased in value by 6%. Second, there was accumulation in the meme coin market, during which small traders sold off meme coins, while sharks and whales increased their token holdings.
However, despite the price increase of SHIB in April, the cryptocurrency is valued 38% lower than at the beginning of 2025. Due to the bearish trend, 58% of Shiba Inu holders will incur losses if they sell their assets at the current rate, 4% will break even, and only 38% will make a profit.
Despite the downward trend, most holders are not in a hurry to part with their coins. This is evidenced by the fact that 78% of SHIB holders have kept their coins for over a year. Apparently, investors believe in an imminent market turnaround and hope to increase their capital.
However, the chart of SHIB's price fluctuations shows an unpleasant picture. The peak price of the meme coin recorded on April 26 was lower than the previous one, and on May 2, the token price finally settled below the upward trend line that emerged in early April. These factors clearly indicate a decline in the coin's price in the medium term.
Negative signs on the Shiba Inu price change chart