Investors Hold Most Shiba Inu (SHIB) Supply Long-Term. Here’s The Implication

Recent blockchain data reveals that a significant portion of the Shiba Inu investor base remains committed to holding their tokens long-term, even amid ongoing market fluctuations. Despite the token’s underwhelming short-term performance, a large number of addresses continue to retain their SHIB holdings for over a year, signaling enduring confidence in the asset’s long-term prospects. Price Performance Overview According to the latest figures from CoinMarketCap , SHIB has experienced a 3.92% increase in the past 24 hours, trading at $0.00001530. Over the last seven days, however, the token’s price rose by a modest 3.88%. In the past 30 days, SHIB posted a 16.16% gain, but it remains down by 39.59% on a year-to-date basis and 37.9% over the past six months. Despite this uneven performance, a notable portion of the investor base remains unmoved, maintaining their positions in anticipation of future price appreciation. Long-Term Holders Account for the Majority of SHIB Supply Data from blockchain analytics platform IntoTheBlock (ITB) indicates that out of approximately 1.45 million on-chain SHIB addresses, around 1.13 million have held their tokens for more than a year. These addresses, classified as ‘holders’ by ITB, collectively own about 787.39 trillion SHIB, which equates to roughly 79.91% of the 985.3 trillion tokens held on-chain. It’s important to note that this figure includes both active and inactive tokens. In particular, the official SHIB burn address accounts for a substantial share, approximately 410.74 trillion SHIB. While these tokens are permanently removed from circulation, they are still recorded in blockchain datasets, contributing to the total shown in the analysis. In contrast to long-term holders, roughly 288,500 addresses have retained SHIB for one to twelve months. Labeled as ‘cruisers’ by ITB, this group holds a combined 171.59 trillion SHIB. Additionally, about 25,760 addresses are classified as short-term holders, having kept their SHIB for less than a month. These traders currently control an estimated 26.33 trillion tokens. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Investor Sentiment and Price Projections The substantial volume of SHIB held by long-term addresses suggests continued optimism regarding the token’s future. Many of these holders remain hopeful that SHIB will experience significant price growth, similar to the dramatic surge seen during the 2021 bull market. Analyst predictions have further fueled this sentiment. For example, Eunice Wong has projected that SHIB could rise to $0.0001 in the current cycle, implying a potential gain of 548.5% from current levels. Distribution of SHIB Holdings by USD Value ITB also provided a breakdown of SHIB portfolios by dollar value. Of all tracked addresses, approximately 203,500 hold SHIB valued at less than $1. Another 225,730 addresses have portfolios between $1 and $10, while nearly 568,000 hold SHIB worth between $10 and $100. In the $100 to $1,000 range, about 350,900 addresses are included, while 95,190 wallets contain SHIB valued from $1,000 to $10,000. Around 11,310 addresses control holdings worth between $10,000 and $100,000. Larger portfolios are less common, with about 1,470 addresses holding $100,000 to $1 million in SHIB. Furthermore, 857 wallets own SHIB worth between $1 million and $10 million, and only 71 addresses have SHIB portfolios exceeding $10 million. This distribution highlights a broad base of retail participation, with a small fraction of high-value holders maintaining large positions. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Investors Hold Most Shiba Inu (SHIB) Supply Long-Term. Here’s The Implication appeared first on Times Tabloid .