Shiba Inu is in demand again, as number of token holders signals
SHIB seems to have started to be sought by investors again, as evidenced by the number of crypto asset holders presented by Etherscan. Since the beginning of December, when U.Today reported an unexpected dramatic drop in the number of SHIB holders, their number has increased by 8,694 addresses, or 0.7% in relative terms. At the moment, the number of Shiba Inu token holders is at 1.26 million addresses.
If we compare the change in the number of SHIB holders and the price action of the token, we can assume that the 2.3% drop in the number of addresses from the last week of November to the beginning of December was due to profit taking. At that time, the SHIB price rebounded from the local bottom at $0.0000082 and hit the resistance level at $0.0000095, where the outflow of holders stopped.
Furthermore, the number of token holders started to increase again as soon as SHIB price dropped back to the lower end of the indicated price range.
What does this mean for Shiba Inu (SHIB)?
Overall, there are two conclusions. The first is that SHIB investors now prefer to act cautiously and are not staying in their positions for long. The second is that, judging by the price action of the Shiba Inu token, there is a new range of price movement, which is also the bottom for now.
