Popular meme coin Shiba Inu (SHIB) has reached a new record high in terms of a metric that reflects investor behavior. In addition, a significant amount of tokens were sent to burn wallets in SHIB burns.
Long-term SHIB investors reach record high
In the crypto world, it’s not unusual for investors to be involved in the long run. But with the Shiba Inu (SHIB), the number of long-term holders has reached an unprecedented level. Data from IntoTheBlock shows that the number of addresses holding SHIB for a year or more has reached an all-time high of 835,780. The nickname for such wallets, “hodlers”, currently accounts for 67.35% of all addresses holding SHIB.
Meanwhile, the number of cruisers and traders holding Shiba Inu tokens has decreased. The number of cruisers holding the token from 1 month to 12 months decreased by 68,140 wallets to 365,570, accounting for 29.46% of the total SHIB holding addresses. Traders holding the token for less than a month fell to the 39,480 mark, which equates to 3.18% of the total amount.
These numbers show that the Shiba Inu token is gaining a more stable investor base. Long-term investors are generally more committed to a project’s success and believe in the project’s far-reaching potential. It can be said that most of the SHIB supply is concentrated in the wallets of exchanges and crypto whales of all kinds. However, the data shows that the whale volume is 253 trillion SHIB, while individual investors hold 201.37 trillion coins. The other 118.24 trillion is in the wallets of medium-sized investors.
234 million Shiba Inu tokens burned
The Shiba Inu (SHIB) network has witnessed a significant drop in circulating supply, with around 250 million tokens recently removed from circulation. This situation, cryptocoin.com This came after the report we reported recently, which revealed that more than 1.1 billion tokens were destroyed on the network. Thus, it marked one of the biggest burning events in the past few months.
According to experts, the removal of such a significant number of tokens from circulation could have a positive impact on the value of the Shiba Inu. As the token supply decreases, scarcity may increase, potentially leading to higher demand and a price increase. This development follows the recent surge in both network and market activity for the meme-inspired cryptocurrency.
The Shiba Inu has been gaining traction in the market recently and has broken through the 200-day moving average barrier. This bullish momentum has caught the attention of investors and traders looking for promising opportunities in the crypto market. The surge in interest, coupled with recent token burning events, may indicate that the Shiba Inu is poised for further growth.
The Shiba Inu ecosystem has also benefited from the latest Ethereum unlock, which has led to increased volatility in the cryptocurrency market. When there is more volatility in the market, investors tend to tolerate riskier investment options like the Shiba Inu.
While the removal of 250 million tokens and the latest market developments indicate a positive outlook for the Shiba Inu, it is essential that investors remain cautious and do research before entering the market. Cryptocurrency markets can be highly volatile, and unexpected events or market changes can have a significant impact on the price of digital assets.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.