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Dog-themed cryptocurrency Shiba Inu (SHIB) has set a completely brand new record, this time in its total number of addresses, which now stands at 3.67 million, per IntoTheBlock data.
Total addresses refer to those that were ever created and, at one point, held a particular crypto asset, including those that still do. This is significant in the long term since it may indicate an increasing holding base.
The number of total addresses with a balance has also maintained steady growth, reaching 1.26 million. While the total number of addresses with a balance does not exactly correspond to the number of holders, it provides a useful approximation of the number of people who have a crypto asset.
Similarly, in the long term, the total number of addresses with a balance indicates interest in holding and investing in a specific crypto asset.
Tomiwabold OlajideAccording to IntoTheBlock data, Shiba Inu has reached new highs in its hodlers', or long-term holders', count. The proportion of this category of Shiba Inu holders is now 74%, the highest since its inception. The percentages of midterm and short-term holders are 24% and 2%, respectively.
SHIB and market price action
At the time of writing, SHIB was marginally up 0.11% in the last 24 hours to $0.000008349.
This remains significant as major cryptocurrencies, especially those in the top 100, are seeing losses in the range of 5% to 13%. Global crypto market capitalization is down 2.10% in the last 24 hours, mirroring the entire crypto market's losses.
According to on-chain analytics firm Santiment, fear appears to be creeping onto the crypto market. Santiment highlights a positive: if FUD becomes prominent, bulls may buy the dip.
"Fear sentiment is creeping in after two-thirds of the top 100 altcoins have retraced over the past week. Particularly in the past hours, several have lost a large chunk of their November profits. If FUD becomes prominent, buy-the-dip opportunities should be worth exploring," Santiment stated.
Dan Burgin
U.Today Editorial Team
Vladislav Sopov