Advertisement
AD

Main navigation

Advertisement

Shiba Inu (SHIB) Bull Run Easy to Explain With This Metric

Advertisement
Thu, 10/08/2023 - 14:00
Shiba Inu (SHIB) Bull Run Easy to Explain With This Metric
Cover image via www.freepik.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

The buzz around Shiba Inu (SHIB) seems to never die down, and a closer look reveals a compelling reason behind the latest price surge. Since July 1, SHIB has witnessed an impressive 25% hike. But why? The answer might lie in a crucial metric: holder distribution.

Advertisement

Recent data suggests that the composition of Shiba Inu holders is skewing toward those who are in it for the long haul. A significant 70% of SHIB's holders have now been holding onto their assets for more than a year. This is a remarkable shift and speaks volumes about the changing perception of the meme coin.

Article image
Source: TradingView

Historically, meme coins, including SHIB, were viewed as quick, speculative plays by many in the cryptocurrency community. A rapid buy-sell pattern often leads to volatile price swings, as short-term traders attempted to capitalize on short-lived price movements. However, the increasing proportion of long-term holders indicates a maturing investor base that sees potential value in holding SHIB beyond mere speculative gains.

Advertisement

Related

This transformation in holder composition can have profound implications for Shiba Inu's price performance. With a majority of investors holding onto their SHIB for extended periods, the coin's liquidity is reduced, making it less susceptible to wild price fluctuations resulting from massive sell-offs. Furthermore, a committed holder base provides a foundational level of support to the coin, making it more resilient during market downturns.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

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

Popular articles

Advertisement
AD