Shiba Inu holders’ composition has shifted dramatically
According to data from IntoTheBlock, the number of long-term Shiba Inu owners is increasing. According to the composition of IntoTheBlock holders by holding time, 26% of SHIB holders held their tokens for more than a year, 70% held their tokens for less than a year, while 4% held their tokens for less than a month.
In mid-June, U.Today reported the percentage of Shiba Inu’s long-term holders as 19%, while that of midterm holders was then 77%, only 3% held onto their tokens for less than a month at the time.
At the end of December 2021, it was reported that Shiba Inu owners were largely short-term and medium-term owners, with the percentage of each category being 14% and 86% respectively. At that time, the percentage of long-term holders, or those who have held for more than a year, was nil.
Fast forward to now, and the Shiba Inu holders’ composition has shifted dramatically, with long-term owners now outnumbering short-term owners. This might imply a shift in investor focus from a short-term view to a long-term one. This comes as the crypto markets entered into a “bearish phase” or “crypto winter’’, in which altcoins saw between 70%-80% of their present peaks wiped off.
Investors look to the long term
Cryptocurrencies are trying to recover from a rout this year that was largely driven by the Fed’s shift to monetary tightening and subsequent leveraged outbursts, such as the collapse of crypto hedge fund Three Arrows Capital. At press time, SHIB was changing hands at $0.00001229, up 6.47% in the last 24 hours.
According to WhaleStats, Shiba Inu continues to set record-breaking milestones in its holder count, reaching over 1,215,000 holders. At the time of publication, the number of Shiba Inu holders was 1,215,377 per WhaleStats data. This signifies a long-term investor interest and, therefore, remains a positive sign.
Shiba Inu also returned as the top token holder for the top 100 ETH whales. A WhaleStats analysis of the top 100 Shiba Inu owners reveals a 28.29% and 33.32% increase in average SHIB balance and value for this address category. Trading volumes also jumped by 53.93% while NetFlow increased by 73.12%.
