Shiba Inu (SHIB) reached the highest buying pressure recorded on Coinbase in 2022 on Friday. For the first time this year, SHIB’s trading activity has reached its annual peak, 98% of investors While keeping the Shiba Inu in “buy” orders in the last 24 hours, only 2% hold “sell” orders.
SHIB seems like an affordable investment at the moment as investors can accumulate 1.1 million meme coins for just $10. Large “buy” orders suggest investors are still taking advantage of the Shiba Inu dips.
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SHIB had previously suffered a 94% buying pressure in October when markets briefly rallied for four days. However, Friday’s 98% “buy” orders came at the same time that the markets were lowering after a brief rise this week. Additionally, the typical holding time for the meme coin jumped to 211 days as investors held the token for seven months or longer.
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These purchases are made on the belief that SHIB can create life-changing wealth once it reaches the $0.01 level. Investors believe that the meme coin will one day repeat the success of Dogecoin and eventually break above the $0.01 milestone.
SHIB 2023 Roadmap
The Shiba Inu has a series of updates in 2023 that investors are eagerly waiting for. Here are the upcoming and most anticipated updates in the meme coin ecosystem:
- Shibarium layer-2 network
- SHIB: Metaverse
- ShibaSwap 2.0
- ShibaNet
- SHI stablecoin
- treat token
At press time, the Shiba Inu is trading at $0.00000864 and is down 3.1% on the 24-hour trading frame. It’s also more than 90% behind the all-time high of $0.00008616, which it reached in November last year.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.