- Shiba Inu (SHIB) marks a significant achievement as the number of its long-term holders reaches an all-time high, demonstrating robust community belief in the token.
- Large transactions on the Shiba Inu network have spiked by 177% within the last 24 hours, typically indicating heightened activity from significant stakeholders.
In a landscape dominated by big names like Bitcoin and Ethereum, Shiba Inu (SHIB) has emerged as a dark horse in the arena of blockchain. It’s been setting records, most notably for the remarkable surge in its network activity over the past month, with an impressive 2,538 new SHIB addresses created on a single day, May 26.
— Shiba Inu News (@ShibalnuNews) June 1, 2023
As per data acquired from Etherscan, SHIB’s community is expanding, boasting a current total of 1,309,548 holders. The change in the number of SHIB holders doesn’t stop there; the dynamics of its holder composition have also been evolving.
Shiba Inu has chalked up an unrivaled milestone in terms of the proportion of its long-term holders. Now, a significant 70% of SHIB holders have been retaining their tokens for more than a year. This enduring faith in the cryptocurrency speaks volumes about the loyal community that backs it.
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In comparison, SHIB’s steadfast holding is outpacing several of its blockchain competitors. To put it into perspective, Dogecoin, a similar themed coin and SHIB’s main rival, has a long-term holder percentage of 69%, while Cardano sits at 53%.
The portion of SHIB holders who have held onto their tokens within the year is 28%, and a mere 2% have held onto their tokens for less than a month. These figures might seem diminutive in comparison but they stand against the test of a bearish market that has characterized the past year and persists even now.
In the midst of all this, Shiba Inu continues to trade at a six-month low, with a current price of $0.0000084. Despite the price declines, the loyalty of SHIB’s long-term holders underlines the community’s unwavering faith in the token’s future.
In a noteworthy development, SHIB’s large transactions have seen a whopping 177% surge within the last 24 hours, according to IntoTheBlock data. This leap in large transactions typically points to an uptick in the activity from whales, who are substantial holders either buying or selling.
At the time of writing, Shiba Inu (SHIB) is on a rebounding trail, registering a slight upturn within the last 24 hours at $0.0000084.
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