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Shiba Inu Sets Eye-Catching Milestone to Close 2022 in Two Days

Thu, 12/29/2022 - 13:55
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Tomiwabold Olajide
Intriguing trend has emerged in markets
Shiba Inu Sets Eye-Catching Milestone to Close 2022 in Two Days
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With barely 48 hours until the close of 2022, Shiba Inu has achieved a significant milestone in the composition of its holders. This follows as the percentage of long-term Shiba Inu owners has reached the important threshold of 60%. This implies that the majority of holders on the network are now long-term investors.

Shiba Inu (SHIB) Needs 2% to Reach Existentially Important Goal, Here's What It Is

According to IntoTheBlock, long-term holders, or "hodlers," comprise a cohort that includes all Shiba Inu investors who have held onto their tokens for at least more than a year. SHIB has gained traction in this regard since the beginning of the year, with the percentage of hodlers climbing from 1% to 60%, where it is now.

According to IntoTheBlock's holder composition by time held, 60% of SHIB holders have kept their tokens for more than a year, 36% have held for less than a year and 4% have held for less than a month.

Following the poor market conditions that have lasted since 2022, an intriguing trend has emerged: accumulation. This is evident in the rising number of long-term investors compared to the relatively stagnant number of short-term investors.

SHIB returns to whales' radar

According to WhaleStats data, Shiba Inu's utility among whales has soared in the last 24 hours as it returns under the radar. SHIB ranks as one of the most used smart contracts among the top 100 ETH whales in the last 24 hours.

SHIB was also one of the top 10 tokens purchased by the top 2,000 ETH whales, who continued their accumulation spree unaffected by the market's recent lackluster price action. At the time of publication, SHIB was marginally down in the last 24 hours at $0.0000079.

Meanwhile, large transactions, which refer to those that exceed $100,000 and are often indicators of whales' action, either buying or selling, were up 20%.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.