Shiba Inu Sets New Milestone in This Long-Term Metric: Report

Oct 27,2022
Shiba Inu Sets New Milestone in This Long-Term Metric: Report

According to the data of IntoTheBlock, the proportion of long-term holders of SHIB reached the highest value, which represents a new milestone for the indicator value. The proportion of long-term holders (or "hodlers") has jumped to 38%, which is the highest so far, while the proportion of speculators in the middle and late stages has decreased again. In addition, the proportion of holders is relatively stable in the short term.

According to the composition data of the holders of IntoTheBlock by duration, 38% of the SHIB holders have "packaged" their tokens for more than a year, 59% of the holders have held them within a year, and 3% of the holders have held tokens for less than a month.

Shiba Inu "hodlers" refer to the detailed addresses of SHIB held for more than one year. Since the beginning of 2022, the total number of holders of this address has increased from only 1% to more than 38%.

Although SHIB continued to fall from the highest value, it still deeply attracted many investors. According to the data of WhaleStats, a digital currency data tracker, Shiba Inu has 1230662 holders at this stage, which indicates that the total number of SHIB holders has increased recently.

Transaction volume of Shiba Inu increased by 211%

According to CoinMarketCap data, Shiba Inu's trading volume increased by 211% with the rise in SHIB prices.

At the start, SHIB changed hands at $0.00001047, up 5.50% in the past 24 hours. If the closing price exceeds US $0.00001017, the SHIB price will remain green for the next day.

With the traders trading a lot to gain profits, in most cases, the higher uncertainty results in the increase of the trading volume of most cryptographic assets.

Therefore, the increase in SHIB turnover may be due to the accumulation of SHIB by investors within their current scope.