SHIB was down 4.13% at $0.0000093
Shiba Inu More than 250,000 new holders have been added in a difficult year for the cryptocurrency that has been characterized by market failures and falling values.
Digital currencies are underperforming due to the Fed’s tightening monetary policy and a series of major industry firms going bankrupt, including Terra, Celsius and FTX.
The Shiba Inu, at the end of November of last year, reached the one million holder milestone for the first time. This comes shortly after surging thousands of percent to an all-time high of $0.000088 at the end of October 2021. SHIB was a big winner in 2021, with an increase of lakhs of percent.
According to WhaleStats, there are currently 1,257,121 Shiba Inu owners. This number was considerably higher in past weeks, sometimes reaching the 1.274 million mark. Therefore, on average, SHIB could be said to have added over 250,000 holders in the last 12 months.
While users may have been impressed by its amazing rally in 2021 and decided to join in, the same cannot be said in 2022.
At the time of publication, SHIB was down 4.13% at $0.0000093. At this current price, SHIB is down nearly 90% from its all-time high. The motivation for new Shiba Inu holders becomes quite interesting at this point.
56% SHIB holders are in it for long term reasons
A dynamic change is observed in the composition of its holders. Based on the length of time SHIB holders have held their tokens, a large proportion of SHIB owners, at 56%, have held for more than a year.
SHIB came into existence two years ago, in precisely August 2020. This implies that these owners got onboard as SHIB gained traction and have held onto their tokens since then.
Despite significant price reductions for the SHIB token and cryptocurrencies across the board, 2022 has provided many achievements for the Shiba Inu ecosystem.
From the SHIB metaverse to the Shiba Inu burn portal to the Welly’s fast food integration and numerous “partnershibs,” including those of John Richmond and inclusive of SHIB listings on exchanges, the list remains long. However, the truth remains that market conditions might be somewhat disconnected from reality on the ground.
