Advertisement
AD

Main navigation

5,000 SHIB Owners Bought It at All-Time Low, Now Holding at 1,000% Unrealized Profit

Advertisement
Sat, 30/10/2021 - 14:40
5,000 SHIB Owners Bought It at All-Time Low, Now Holding at 1,000% Unrealized Profit
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents
Advertisement

According to data provided by IntoTheBlock, close to 5,000 traders and investors bought Shiba Inu token close to its all-time low, which currently shows more than a 1,000% price increase.

The lucky 5,000

While there are some wallets that currently hold Shib with a huge 1,000% profit, the majority of addresses that purchased SHIB close to the ATL have most likely sold their holdings on the token's way to the new ATH.

The 5,000 SHIB holders mentioned in the on-chain data are the ones who have not sold any of their holdings and are still choosing to hold rather than sell their funds.

Related

SHIB's all-time low was reached back on June 12, 2021. The memetoken has been trading at $0.00000559, but it swiftly recovered back to the top of the trading range with a 40% price increase.

Holder population

With the Shiba Inu token becoming more and more popular in the crypto space, the number of short-term holders of SHIB gradually increased in October. Back in September, the majority of SHIB holders owned tokens for 1-12 months, while in October, the number of mid-term holders decreased to 60% when it had previously been at 85%.

SHIB Daily Chart

When the majority of asset holders are retail traders who prefer short-term profit rather than long-term holding, the market should expect more volatility to appear before long. Previously, U.Today reported that Shib and Doge remain the two most popular topics in the cryptocurrency industry. Attention from the community signals that retail interest is still present.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD