Crypto News

SHIB Long-Term Holders Hit Record Highs, Indicating Growing Confidence in Crypto Future

Published by
Nonhlanhla P Dube
  • The number of long-term holders of Shiba Inu token (SHIB) has reached an all-time high of 835,780, indicating a growing number of stable investors committed to the token’s success.
  • Long-term hodlers now make up 67.35% of all SHIB addresses, while the number of cruisers and traders holding the token for shorter periods has decreased.
  • Retail investors hold 201.37 trillion SHIB, indicating their significant presence in the token’s ownership and growing confidence in its future potential.

The world of cryptocurrencies is renowned for its volatile nature, with traders often seeking short-term gains through rapid buy-and-sell transactions. However, the Shiba Inu token (SHIB) is bucking this trend by attracting a growing number of long-term investors. This trend is highlighted by the latest data from IntoTheBlock, which shows that the number of addresses holding SHIB for a year or more has reached an all-time high of 835,780.

These long-term investors are affectionately referred to as “hodlers” within the cryptocurrency community, and they now make up a significant 67.35% of all SHIB addresses. In contrast, the number of “cruisers” and “traders” who hold SHIB for shorter periods has declined. Cruisers, who hold the token for one to twelve months, decreased by 68,140 wallets to 365,570, making up 29.46% of total SHIB holding addresses. Traders, who hold SHIB for less than a month, fell to 39,480, equal to 3.18% of the total.

These figures suggest that SHIB is gaining a more stable investor base, which is generally positive for the long-term prospects of a cryptocurrency. Long-term investors tend to be more committed to a project’s success and believe in its potential to succeed over the long run.

Some may argue that the majority of SHIB is held by exchanges and cryptocurrency whales, rather than retail investors. However, the data from IntoTheBlock indicates that retail investors hold 201.37 trillion coins, while whale volume is 253 trillion SHIB. Another 118.24 trillion is held by midsize investors. This means that retail investors are not insignificant in the overall ownership of SHIB, and their increasing interest in long-term holding may indicate growing confidence in the token’s future prospects.

In conclusion, the number of long-term SHIB holders has reached unprecedented levels, with hodlers now making up the majority of all SHIB addresses. This is a positive sign for the cryptocurrency’s future, as it suggests a growing number of investors believe in its potential over the long run.

Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Share
Published by
Nonhlanhla P Dube

Recent Posts

Tesla Unveils Refreshed Model 3 in North America with Exciting Upgrades

Model 3 Refresh: Tesla introduces a restyled Model 3 in North America, featuring a rear…

January 11, 2024

SEC Twitter Account Compromised, False Bitcoin ETF Approval Post Triggers Market Volatility

Unidentified individual accessed SEC's Twitter through a third party. Lack of two-factor authentication heightened vulnerability.…

January 11, 2024

Global Currency Markets Navigate Economic Uncertainties: Yen Weakens, Dollar Awaits U.S. Inflation Data

Japanese yen falls against the dollar and euro due to persistently shrinking real wages for…

January 11, 2024

Oil Prices Unmoved as Unexpected U.S. Inventory Build Raises Concerns

Unexpected Inventory Build: U.S. crude inventories unexpectedly grew, sparking concerns about weakening fuel demand and…

January 11, 2024

YanGuFang International Group Appoints Interim Executives Amidst CEO and CFO Detainment

Leadership Shake-up: CEO and CFO of YanGuFang International Group detained by Shanghai Police, prompting interim…

January 11, 2024

Cryptocurrency Market Analysis: SHIB, SOL, and ETH Navigate Challenging Terrain

SHIB breaches 200-day EMA, signaling bearish sentiment. Historical data suggests strong buyer reactions and potential…

January 11, 2024