Shiba Inu gains long-term investors as investors take advantage

According to IntoTheBlock research, the number of long-term Shiba Inu owners is growing. 

In mid-June, U.Today stated that 19 percent of Shiba Inu tokens were owned by long-term investors, 77 percent were held by mid-term holders, and just 3 percent were kept for less than a month.

In late December 2021, it was stated that most Shiba Inu owners were either short-term or medium-term owners, with 14 percent and 86 percent, respectively. At that time, the proportion of long-term holders, meaning those holding for more than one year was zero.

Long-term owners currently outweigh short-term owners in the current Shiba Inu owner population. This occurred when the cryptocurrency markets entered a “bearish period” or “crypto winter,” during which altcoins lost between 70 and 80 percent of their current high.

 Long-term investors are attempting to recoup the losses. At the time of publishing, SHIB was trading at $0.00001229, an increase of 6.47 percent in the previous twenty-four hours.

According to the Whale report, there were 1,215,377 owners of Shiba Inus at the time of publishing. This indicates a long-term investment interest and is thus a favourable indicator.

Shiba Inu has regained its position as the largest token holding among the top 100 ETH whales. The average SHIB balance and value for this group of addresses increased by 28.29 percent and 33.32 percent, respectively, according to a WhaleStats study of the top 100 Shiba Inu holders. Additionally, trading volumes increased by 53.93 percent while NetFlow increased by 73.12 percent.

Also Read: U.S. Banking Regulator Tells Banks To Limit Crypto Deposit Insurance Claims

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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