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.
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.
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.