bitcoin
bitcoin

$97908.729563 USD

3.87%

ethereum
ethereum

$3487.358006 USD

2.13%

tether
tether

$0.999254 USD

0.06%

xrp
xrp

$2.299833 USD

2.32%

bnb
bnb

$703.629953 USD

1.71%

solana
solana

$199.105464 USD

4.14%

dogecoin
dogecoin

$0.333323 USD

3.42%

usd-coin
usd-coin

$1.000012 USD

0.00%

cardano
cardano

$0.924888 USD

2.19%

tron
tron

$0.257454 USD

2.17%

avalanche
avalanche

$41.199121 USD

6.07%

chainlink
chainlink

$24.919702 USD

3.39%

toncoin
toncoin

$5.842197 USD

3.86%

shiba-inu
shiba-inu

$0.000023 USD

3.28%

sui
sui

$4.588567 USD

-1.89%

Cryptocurrency News Articles

Shiba Inu Holders Stay Strong Despite Market Swings

Apr 17, 2024 at 10:00 am

Despite price fluctuations, a substantial proportion of Shiba Inu (SHIB) holders (75%) have maintained their investment for over a year, demonstrating long-term confidence in the token's potential. However, data indicates that a significant number of SHIB holders (36%) are currently experiencing losses, while only 57% are in profit.

Shiba Inu Holders Stay Strong Despite Market Swings

Shiba Inu Holders Display Stoic Resilience Amidst Price Fluctuations

A substantial majority of Shiba Inu (SHIB) holders have exhibited unwavering confidence in the token's long-term prospects, holding steadfastly through both market highs and lows. An analysis of data from IntoTheBlock reveals that approximately 75% of SHIB holders have maintained possession of their tokens for over 365 days. This unwavering conviction suggests that holders are largely unperturbed by short-term price volatility and are instead placing their bets on the token's long-term potential.

Over the past year, SHIB has experienced a significant price increase of 86.19%. However, the token's journey has been marked by unforeseen dips and soared to an impressive all-time high (ATH), only to subsequently decline by 74.13%.

Despite the token's fluctuating value, a majority of holders have chosen to remain invested. Data indicates that 57% of SHIB holders are currently in profit, while 36% are experiencing losses. Notably, the token's velocity, which measures the rate at which tokens are circulated on the network, has declined to a mere 0.013, suggesting a slowdown in trading activity.

This decline in velocity is consistent with the observed trend of holders holding SHIB for extended periods, a factor that can positively impact the token's intrinsic value over time. Accordingly, if these holders continue to withhold liquidating their profits, SHIB's price could potentially rise significantly.

Another metric that bears consideration is active addresses, which approximate the number of users interacting with the SHIB network. As of this writing, the 24-hour active addresses for SHIB stand at 4962, a notable decrease compared to previous highs. This reduced activity may present an obstacle to the token's short-term price recovery.

However, analysts predict that activity on the SHIB network is likely to increase in the months ahead, potentially fueling a rally for the token. To corroborate this prediction, network growth, which tracks the number of new addresses, also requires an upward trend.

If network growth exceeds 10,000, it could provide tangible validation for the faith that SHIB holders have placed in the token. It is important to note that this analysis represents a snapshot of the current market conditions and that the cryptocurrency market remains highly volatile and subject to unpredictable changes. Investors are advised to conduct thorough research and exercise caution before making any investment decisions based on the information provided.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Dec 25, 2024