Shiba Inu Investors Exhibit Diamond Hands as 75% Hold for Over a Year

Shiba Inu Investors Exhibit Diamond Hands as 75% Hold for Over a Year

Time Stamp: April 17, 2024 3:59 PM
  • 75% of Shiba Inu (SHIB) token holders have kept their investments for over a year, indicating strong belief in the token’s long-term growth.
  • The average SHIB holding period is two years, showcasing a trend towards longer-term investments in the crypto market.
  • Despite a 92% increase in the past year, SHIB remains 74% below its all-time high, with only 58.18% of holders currently profiting.

In a remarkable display of resilience and long-term vision, data has revealed that an impressive 75% of Shiba Inu (SHIB) token holders have held their investments for over a year.

This statistic sheds light on investors’ unwavering belief in the token’s potential for growth, marking a significant shift in the cryptocurrency investment landscape, where patience and a long-term outlook are becoming increasingly valued.

Adding further credence to the loyalty of Shiba Inu investors, data from IntoTheBlock indicates that the average holding period for the meme coin stretches to a staggering two years.

Shiba Inu Investors Exhibit Diamond Hands as 75% Hold for Over a Year PlatoBlockchain Data Intelligence. Vertical Search. Ai.
Shiba Inu Investors Exhibit Diamond Hands as 75% Hold for Over a Year

Despite the token’s fluctuating market conditions, holders’ steadfast commitment has persisted, with SHIB experiencing a surge of over 92% in the past year, but still remaining 74% below its all-time high.

Shiba Inu holders showing strength despite muted price

While the majority of holders have demonstrated their conviction by holding onto their SHIB investments, not all are currently in profit territory. According to IntoTheBlock’s analysis, only 58.18% of holders are “in the money” based on current market prices.

This statistic suggests that a significant portion of Shiba Inu investors are poised to hold their tokens, likely in anticipation of future price increases and potential long-term gains.

The notable rise in the number of tokens burned adds fuel to the optimism surrounding Shiba Inu. Shibburn reports a remarkable 25.92% increase in the daily burn rate, with a staggering 798.31 million tokens burned over the past week – a 289.36% jump.  

Despite these positive developments, Shiba Inu’s market performance has exhibited some weakness in recent times. Since reaching a peak on March 5, the price has plummeted by over 50%, currently trading at $0.00002246.  

On the flip side, if Shiba Inu fails to surpass this resistance, it might drop back to the support level at $0.00002080, highlighting the risks involved in holding the token amidst its volatile market journey.

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