Shiba Inu (SHIB) Boasts a Higher Percentage of Long-Term Holders Than Market Leaders Bitcoin (BTC) and Ethereum (ETH)

input: Bitcoin (BTC) has long dictated the direction of the crypto market, being the pioneering crypto asset. As a result, assets such as Shiba Inu (SHIB) have continued

Shiba Inu boasts a higher percentage of long-term holders than market leaders Bitcoin and Ethereum, according to on-chain data.

On-chain analysis firm IntoTheBlock revealed that Shiba Inu has the third-highest percentage of long-term holders among the assets it currently supports.

Shiba Inu LTH Ratio Stands at 76%

As of Tuesday, May 23, Shiba Inu had the third-highest percentage of long-term holders (LTH) out of the assets supported by IntoTheBlock.

For context, long-term holders are addresses that have held onto their tokens for at least a year. A higher percentage of LTH indicates that investors are more confident in an asset’s potential and most of its holders have continued to HODL their bag amid the prevalent optimism.

Shiba Inu boasts an LTH ratio of 75.8%, which beats both altcoin market leader Ethereum and Bitcoin. The altcoin leader has an LTH ratio of 74.2%, while BTC’s stands at 73.3%.

This statistic showcases the strong community interest in SHIB despite its meme coin branding and low ranking in market cap.

Shiba Inu is also winning in the average time an address has held tokens despite launching five years later. The meme coin’s average holding time stands at 2.6 years, while Ethereum’s average holding time is 2.4 years. BTC, which has existed for over a decade, boasts an average holding time of 4.4 years.

Shiba Inu's Story

Shiba Inu, a popular DeFi token, has experienced a surge in price and trading volume recently. The token's price has risen by over 50% in the past month, and its trading volume has increased by over 300%.

The token's price surge can be attributed to several factors, including the increasing adoption of cryptocurrencies in general and Shiba Inu in particular. The token is also supported by a strong community of traders and investors who are passionate about the project.

The large portion of LTHs in SHIB also suggests that most of its early investors have continued to hold onto their tokens even as the token's price has fluctuated significantly. This loyalty from the community may also be a factor in the token's resilience.

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