Data shows that long-term investors “HODLers” are stocking the popular meme coin Shiba Inu (SHIB). In the tokenda, the optimism of long-term holders stands out. Here are the details…
Shiba Inu investors are patiently accumulating SHIB
As we have also reported as Kriptokoin.com, investment platform Robinhood has finally listed Shiba Inu (SHIB) after months of anticipation. long-term owners’ optimism seems to have paid off. Indeed, according to a chart tweeted by research platform IntoTheBlock, SHIB investors have been patiently accumulating the tokens over the past few weeks, with those holding the token for over a year seem to have grown their balances by as much as 57.11 percent in just 30 days. According to the
Tweet, these long-term SHIB holders, referred to as “Hodlers,” currently own 2.82 percent of the entire supply of the SHIB token. The tweet includes exactly the following statements:
Investors holding the token over a period of 1-12 months increased their supply by 0.51 percent, while traders, i.e. those holding the token for less than a month, decreased by 33.84%.
Has the sensitivity changed for SHIB?
Just fourteen days ago, SHIB lost more than 60,000 holders in two weeks as demand for the token dwindled. However, the latest announcement seems to have prompted a sentiment change for the meme token. It is worth noting that, as previously reported, the token entered its market capitalization of more than $1 billion in less than an hour after the announcement.
Meanwhile, on-chain and social metrics analytics platform Santiment released a chart showing a 30 percent increase in price and a 317 percent increase in SHIB trading volume on April 12, right after the Robinhood announcement. . Apart from that, a recent study discovered that SHIB is the fourth most sought-after cryptocurrency online in the United States, after Dogecoin (DOGE), Bitcoin (BTC), and Ethereum (ETH). It became the most sought-after first cryptocurrency in seven states, including New York, Nevada, California, and Texas.
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