- 70% of Shiba Inu investors have transitioned to long-term holders.
- Whales increase trading activity by over 600%, marking a potential boost in SHIB’s price trajectory.
Shiba Inu Investors: From Short-Term Trades to Long-Term Visions
In a notable shift, 70% of Shiba Inu (SHIB) investors are now holding onto their investments with a long-term perspective, implying a rising confidence in the coin’s future potential. After a period of stabilization under $0.000010, SHIB showcased an impressive 30-day price surge of 45%, potentially fueled by the coin’s growing community projects and positive on-chain data.
Good morning #SHIBARMY ☕️ Brace yourselves for a ‘quiet’ week ahead… who are we kidding? We’re about to ignite some serious Shib excitement! Quiet days? Not in our vocabulary! 🤫🎉🚀 #Futurist23 pic.twitter.com/SlrtGdhOZL
— Shib (@Shibtoken) August 14, 2023
Driven by a series of significant updates and project rollouts such as the native SHIB hardware wallet and the forthcoming Shibarium L2 Network, the sentiment among SHIB investors has seen a positive shift. On-chain data further validates this perspective, indicating an additional 3,460 Shiba Inu investors converting into long-term holders just in August. This trend pushed the total count of long-term holders (those who’ve held SHIB for a minimum of one year) to a record 883,000, or roughly 69.16% of all SHIB wallet addresses.
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In comparison, early 2023 witnessed only 60.4% of all SHIB wallets, approximately 740,000, in the long-term holding bracket. In a complementary trend, short-term traders, or those looking for quick profits, have seen a dip from 4.14% to 3.76%.
The Rise of the Whales
It’s not just the average investor that’s showcasing an increased interest. Large institutional investors, or ‘whales’, have exhibited a 600% increase in their trading activity, evident from the 169 large transactions (transactions above $100,000) recorded as of August 12. Such heightened activity not only infuses the market with much-needed liquidity but also elevates the overall confidence among retail investors.
Combined, the burgeoning number of Shiba Inu’s long-term investors, coupled with the increasing optimism of whale investors, sets the stage for a potential sustained upward price movement for SHIB. While consolidation around the $0.000009 mark is anticipated, the coin’s trajectory might witness an upswing should the vast majority of long-term holders remain committed and new big-ticket investors join the fray.
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