Shiba Inu's Time Marker Experiences a 783% Boost: Unraveling Recent Developments
In a recent analysis by IntoTheBlock data, it has been revealed that the average holding time for Shiba Inu (SHIB) tokens has seen a substantial increase of 783% over the past seven days. This significant shift in investor behaviour and market sentiment is noteworthy as it indicates a move towards a more patient, long-term investment strategy, which is unusual for a meme coin known for its volatility.
At present, the price of Shiba Inu (SHIB) stands at $0.00001387, marking a 5.68% increase in the last 24 hours and an 18% gain over the past week. This price surge, coupled with the extended holding periods, suggests that holders are increasingly reluctant to sell and are optimistic about sustained price growth and the token's future potential.
The "average time token is held" indicator, used to estimate the average holding term for a crypto asset, averages the holding times of all addresses before transferring or selling the Shiba Inu tokens. According to this indicator, Shiba Inu tokens are now held on average for approximately 2.8 years, out of the nearly five years they have existed. This suggests that SHIB traders have a relatively long-term outlook.
This extended holding period can help reduce market volatility and underpin more sustainable price appreciation in the long run. The increased investor confidence in Shiba Inu's long-term prospects is evident, with holders likely anticipating future price appreciation or greater utility within the Shiba Inu ecosystem.
The fact that Shiba Inu tokens are held for such extended periods indicates a relatively mature and stable investor base, which is a positive sign for the coin's future. This shift in investor behaviour could potentially lead to a more stable and sustainable growth trajectory for Shiba Inu (SHIB).
[1] IntoTheBlock Data Shows Significant Increase in Shiba Inu (SHIB) Holding Times:
[1] As a result of a recent analysis by IntoTheBlock data, the average holding time for Shiba Inu (SHIB) tokens has seen a substantial increase of 783% over the past seven days, indicating a move towards a more patient, long-term investment strategy among SHIB traders.
[2] With this significant shift in investor behaviour, the price of Shiba Inu (SHIB) has reached a six-week high and stands at $0.00001387, marking a 5.68% increase in the last 24 hours and an 18% gain over the past week.
[3] This price surge, coupled with the extended holding periods, suggests that holders are increasingly optimistic about sustained price growth and the token's future potential in the crypto finance and investing world.
