From the data on the chain, Shiba Coin Shib: someone made $6.5 million for $17

In the past few days, Shib has been a hot wave of cryptocurrencies. Early entrants have made a lot of money, but it has also led to higher gas costs on the ETH. Igor Igamberdiev, a researcher at The Block, collates The data on The chain. In this article, we will show The process and impact of SHIB through several charts.

1. After Shib was launched, 49.5% of it was added to Uniswap. The LPs exchanged from the capital pool and the remaining Shibs were sent to the address of the V god as a sign of respect.

As a result, V God would be able to drain 93% of the liquidity ($118m) of the pool without having to sell any Shibs, with no impact on the price.

2. The top 50 Diamond Hands of SHIB saw a maximum profit of $2.5 billion and a minimum of $5 million, with an average return of $65 million.

One address, which has grown from $17 to $6.5 million, would fetch $4.2 million if it were sold today.

3. Take a look at the most important Shib-weth liquidity pool in Uniswap v2.

Volume began to increase on May 7, peaking the next day, but there was no significant wash.

Arbitrage bots and sandwich bots account for less than a third of total trading volume.

4. Interestingly, on May 8, Coinbase Wallet users joined the party and started buying Shibs.

As a result, the wallet saw its highest trading volume ever on May 10.

5. Gas is getting more expensive because of SHIB.

Over the past three days, SHIB contract transactions have consumed more than 10% of the gas bill.

This chart shows Shib's popularity waning, but it picked up again after Binance went live.

6. Of the top 10 holders, only one Shib sold last week, according to Nansen.

The main reason for this phenomenon is that the currency is very illiquid and cannot be cashed in.

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