Shiba Inu (SHIB) might be gaining traction toward becoming “safe haven”
The Shiba Inu has reached a historical milestone in the number of owners who have lived in it for a long time. The bearish conditions the market has seen since the beginning of 2022 have tested the strongest hands, or “diamond hands”.
Long-term holders, or “hodlers,” according to IntoTheBlock, make up a cohort that includes all Shiba Inu investors who have been holding onto their tokens for at least more than a year.
In this regard, SHIB has attracted attention since the beginning of the year, with the percentage of hodlers increasing from 1% to 55%.
The bearish market conditions, exacerbated by major collapses such as those of Terra and FTX, contributed to a general loss of conviction across the board. The reverse appears to be true for Shiba Inu as “hodlers,” referring to holders with conviction, are on the rise.
For reference purposes, the number of long-term holders or “hodlers” for Litecoin and Polygon are 44% and 31%, respectively.
A recent analysis by security-focused ranking platform CertiK indicated that Shiba Inu (SHIB) might be gaining momentum toward becoming a “safe haven.”
CertiK reported that SHIB’s historical social sentiment was 79 out of 100, meaning that the crypto online community “feels good about it.”
Whales accumulate
According to WhaleStats data, SHIB ranks as the largest holding for the biggest 5,000 ETH whales, who are “hodling” $76,984,166 worth of SHIB.
SHIB is also among the top 10 bought coins in the last 24 hours in the category of top 1,000 ETH whales.
At the time of publication, SHIB was changing hands at $0.0000093. BONE was up 5% at $0.83.
