Long-term Shiba Inu Holders Are Increasing

The composition of Shiba Inu (SHIB) holders has changed dramatically.

According to IntoTheBlock data, the number of long-term owners of Shiba Inu is increasing. According to IntoTheBlock data on owner composition over time, 26% of SHIB holders have held their tokens for more than a year, 70% have held them within a year, while 4% have held their tokens for less than a month.

On-Chain Shiba Inu Signal. Source: IntoTheBlock

In late December 2021, it was reported that Shiba Inu holders were mainly short-term and mid-term holders, with shares of each at 14% and 86%, respectively. At that point, the percentage of long-term holders, or those who have held for more than a year, is zero.

Historically, the composition of Shiba Inu holders has changed dramatically, with long-term owners now outnumbering short-term holders.

This may imply a shift in investor focus from a short-term to a long-term view. This happens when the crypto market enters a “bearish phase” or “crypto winter,” during which altcoins see a 70%-80% drop from their peak.

Cryptocurrencies are attempting to recover from this year’s downtrend, mainly due to the Fed’s move to monetary tightening and resulting leverages, such as the collapse of crypto hedge fund Three Arrows Capital. At press time, SHIB is changing hands at $0.0000121, up 4% over the past 24 hours.

According to WhaleStats, Shiba Inu continues to set record-breaking milestones in the number of holders, reaching over 1,215,000. At the time of writing, the number of Shiba Inu holders is 1,215,377, according to WhaleStats data.

This shows long-term investor interest and is, therefore, still a positive sign. SHIB has also returned as the most held token by the top 100 ETH whales.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.