- Shiba Inu reaches 3.67 million addresses, indicating a growing and diverse holding base.
- Hodlers make up 74% of SHIB investors, marking an all-time high since its inception.
- Despite market losses, SHIB shows resilience with a 0.11% increase, outperforming top 100 cryptos.
In a surprising turn of events, Shiba Inu (SHIB), the dog-themed cryptocurrency, has achieved a remarkable milestone by reaching a record-breaking total of 3.67 million addresses, according to data from IntoTheBlock. This significant surge in total addresses suggests a growing and diverse holding base, potentially signaling a maturing and expanding investor community for SHIB.
The total number of addresses with a balance has also shown consistent growth, hitting 1.26 million. While this figure doesn’t precisely align with the number of individual holders, it provides a valuable approximation of the community actively engaging with the cryptocurrency. The upward trajectory in addresses with a balance is indicative of sustained interest in holding and investing in Shiba Inu over the long term.
IntoTheBlock’s data further reveals that Shiba Inu has reached unprecedented levels in its hodlers’ count, with long-term holders constituting an impressive 74% of the total. This marks the highest proportion since the cryptocurrency’s inception. In contrast, midterm and short-term holders make up 24% and 2%, respectively. This shift in hodler composition could be a key factor contributing to SHIB’s recent success.
Despite the broader crypto market experiencing losses, Shiba Inu has managed to defy the trend, showing a marginal 0.11% increase in the last 24 hours, reaching $0.000008349. This resilience is particularly noteworthy considering that many top 100 cryptocurrencies are facing downturns ranging from 5% to 13%. The global crypto market capitalization has also seen a 2.10% dip over the same period.
On-chain analytics firm Santiment suggests that fear sentiment is creeping into the crypto market, especially after two-thirds of the top 100 altcoins retraced over the past week. However, Santiment presents a silver lining, stating that if fear, uncertainty, and doubt (FUD) become more prominent, it could create buying opportunities for bullish investors looking to capitalize on market dips.
In conclusion, Shiba Inu’s record-breaking achievements in total addresses and hodlers’ composition amid a turbulent crypto market underscore its resilience and growing community support. As the crypto landscape navigates uncertainties, SHIB’s unique position and the potential buying opportunities presented by market sentiment shifts will undoubtedly be closely monitored by investors and enthusiasts alike.
Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.