SHIB also attracted significant number of investors
According to data from CoinMarketCap, $433,228,651 worth of 35 trillion SHIB or $35,852,595,567,545 has been exchanged in the past 24 hours. The Shiba Inu is also exhibiting a 23% increase in trading volume despite the recent market downturn.
An increase in trading volumes may suggest that investors’ interest in a particular project remains intact and, thus, they are willing to commit to it, making it an important metric for meme cryptocurrencies. Also, despite the current price drop, a significant number of traders have held onto their positions in recent months.
According to IntoTheBlock’s data on holder structure over time, 29% of SHIB holders have “hold” their tokens for more than a year, 68% within a year and 4% have held their tokens for less than a month. kept for the time being.
Shiba Inu holders on rise
SHIB has now attracted a significant number of investors despite being down 86.39% from its all-time high. The blockchain data tracker WhaleStats gives the current Shiba Inu holder count as 1,218,178, implying SHIB has gained thousands of holders in recent weeks.
In addition to ordinary investors, a growing number of businesses are accepting Shiba Inu as a form of payment, from fast food delivery companies to luxury fashion goods. AMC Theaters announced the acceptance of Shiba Inu as a form of payment via BitPay in April.
At the time of publication, Shiba Inu was down 5.23% at $0.000012.The SHIB price turned down to trade beneath the daily MA 50 at $0.000012. The bears pulled SHIB to lows of $0.0000117, a level likely to attract buyers. The RSI is just below the midpoint, suggesting possible range trading before the next move.
However, the prediction of price volatility on the basis of macroeconomic uncertainty remains speculative. However, in case of further downside, SHIB may seek support at $0.00010 next.
