More traders are holding onto their positions despite bearish market conditions
According to data from IntoTheBlock, 30% of Shiba Inu holders are now holding for long-term reasons. This comes as the Shiba Inu is recording more “hodlers” among its holder class. According to IntoTheBlock’s holder structure by time, 30% of SHIB holders have held their tokens for more than a year, 67% held within a year and 3% more than a month Have held your token for a short time.
Only a month ago, the percentage of SHIB “hodlers” was at 27%. The recent growth implies that more traders are holding onto their positions despite bearish market conditions seen across the board.
However, short-term viewers as well as medium-term holders, or so-called swing traders, have seen a slight downside. This remains an encouraging fact as more traders focus their attention on the longer term.
Shiba Inu has also seen the addition of new owners in recent weeks. Per WhaleStats data, the Shiba Inu holder count stands at 1,224,213. An increase in the number of holders suggests interest in an asset over the long term.
At the time of publication, SHIB was changing hands at $0.000001083, up marginally over the past 24 hours. SHIB price is gathering momentum for its next move, but the picture is of consolidation now.
Shiba Inu’s large transactions jump 90%
The number of large transactions is a useful metric for tracking the count of transactions greater than $100,000. Since this sum of money is not available to the average retail trader on-chain, the indicator acts as a proxy for the number of whales’ and institutional players’ transactions.
According to data from IntoTheBlock, there was a 90% increase in Shiba Inu trading volumes, indicating that potentially large amounts of volume were swapped by large players within the past 24 hours.
WhaleStats’ analysis of the top 100 Shiba Inu holders indicates that the average SHIB balance of this category of holders increased marginally by 1.18%, while active addresses rose by a whopping 600%.
