SHIB’s historic social sentiment remains positive for blockchain
According to the security-focused ranking platform certificateThe Shiba Inu (SHIB) is gaining momentum to become a “safe haven”.
The reasons for this, it says, are based on the on-chain analytics data examined. The Web3 security leaderboard noted that meme coins are well known for being built around their online communities, and SHIB is no different.
It was noted that the Social Sentiment Index, according to the Skynet Social Analysis Module, remains an important and effective tool for determining how online communities feel about specific projects.
Based on this, SHIB’s historic social sentiment, according to a graphic posted by Certik, was 79 out of 100. This remains positive for the blockchain.
Another metric it considers SHIB’s performance summary, according to Skynet’s “Token On-Chain Monitoring and Intelligence” module. The certified analyst notes that SHIB has seen a 0.25% increase in token holders over the same time frame, despite the price being lower over the past 24 hours.
As reported by U.Today, Shiba Inu continues to set new highs in its holder count, which is presently at 1,274,138, according to WhaleStats’ data. Likewise, holder conviction seem to be at its highest.
According to data from IntoTheBlock, the percentage of long-term holders or “hodlers” for SHIB is currently at an all-time high, marking a new high for the metric. According to IntoTheBlock data, the proportion of long-term investors holding their assets for more than a year has increased to 52%.
SHIB price action
Notably, SHIB has underperformed this year, impacted by negative events within and outside the cryptocurrency industry.
At the time of publication, SHIB was changing hands marginally over the past 24 hours at $0.0000091. In the near term, the daily RSI of SHIB has flattened slightly below the neutral mark of 50, suggesting the possibility of a range trade ahead of the next move.
