Shiba Inu, has reached a new milestone, although not in terms of price. The Shiba Inu has reached new highs in the number of hodlers, or long-term owners, according to data from IntoTheBlock.
IntoTheBlock aggregates addresses based on how long they have owned a particular asset. These addresses are divided into hodlers, cruisers and traders. Hodlers are those who have held an asset for more than a year and are considered long-term investors.
Cruisers handle withholding periods ranging from one to twelve months and are medium-term or swing traders. Traders are short-term speculators who hold an asset for less than a month.
Koinfinans.com In this regard, as we reported, the percentage of SHIB hodlers has now reached 74%. This rate is the highest rate seen since the establishment of the Shiba Inu. The ratio of cruisers and traders is 24% and 2% respectively.
The SHIB ecosystem is constantly expanding with new use cases ranging from games to metaverse and real-world utility. These new uses are likely to play a significant role in the continued growth of hodlers. Because these long-term addresses may want to protect their assets to benefit from these uses.
The positive consequence of the rise of hodlers is that most of the supply held by these addresses is illiquid as it rarely moves and is most likely held in cold wallets. This illiquidity causes demand forces to crypto- It will trigger its effect on the asset, perhaps pushing it in the long run.
The price of Shiba Inu increased by 1.95% in the last 24 hours, reaching $0.000008305 at the time of writing. Shiba Inu has witnessed several dramatic price jumps this year, according to CoinGecko data. However, it is still down 6.9% since last year. meme coinis down 90.34% from its all-time high of $0.00008616.