Led by the leading crypto Bitcoin (BTC), 2021 has been a tremendous year for the cryptocurrency market. In addition, with the increasing popularity of meme tokens, altcoin projects such as Doegceoin (DOGE) and Shiba Inu (SHIB) have been flooded with investors. Recent data shows that Shiba Inu and Cardano are held the longest by cryptocurrency traders.
Investors hold SHIB longer than Bitcoin and ETH
With these developments, the meme coin that comes out as a joke more than Bitcoin (BTC) and the leading altcoin Ethereum (ETH) ‘s managed to mark the year 2021. With Tesla CEO Elon Musk, who has set the agenda of recent days by buying Twitter, which we also included in the news of Kriptokoin.com, introducing the Bitcoin parody Dogecoin (DOGE), the meme coin exploded and the highest level it had ever seen was 0.74. up to $.
However, according to the latest data, the crypto money that crypto investors have preferred for the longest time is not Dogecoin, but Shiba Inu (SHIB), the popular meme coin inspired by it. Data provided by Coinbase shows that SHIB has even surpassed leading crypto Bitcoin and leading altcoin Ethereum.
According to data, Shiba Inu has a 120-day hodl period, beating its strong rival Dogecoin. On the other hand, the biggest meme cryptocurrency DOGE has a hodl period of 80 days. However, the largest and second largest cryptocurrencies, Bitcoin and Ethereum, have a hodl period of 115 and 87 days, respectively. Avalanche (AVAX), which is among the top 10 coins by market capitalization, was the shortest-held altcoin with only 36 days of hodl.
Cardano (ADA), meanwhile, recorded the longest hodl time of 121 days. The ADA token has seen a drop of over 30% in the past 30 days. Still, it managed to stay on the top 10 cryptocurrencies list with a market cap of $28.6 billion.
According to Coinbase, a long hodl period is a sign of an accumulation trend in the market. However, a short holding period indicates an increased movement of tokens across wallets. According to reports, the Shiba Inu has improved the hodl time incredibly over time. SHIB had a 51-day hold period at the beginning of 2022.
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