These 5,000 SHIB Holders Now Hold Coins With Four-Digit Profit
According to data provided by IntoTheBlock, close to 5,000 traders and investors bought Shiba Inu token close to its all-time low, which currently shows more than a 1,000% price increase.
The lucky 5,000
Although some wallets currently hold Shib with a whopping 1000% profit, the majority of addresses that bought SHIB near the ATL most likely sold their holdings on the token path to the new ATH.
The 5,000 SHIB holders mentioned in the on-chain data are the ones who have not sold any of their holdings and are still choosing to hold rather than sell their funds.
SHIB’s all-time low was hit on June 12, 2021. The memetoken was trading at $ 0.00000559, but it quickly returned to the top of the trading range with a 40% price increase.
Holder population
With the Shiba Inu token becoming more and more popular in the crypto space, the number of short-term holders of SHIB gradually increased in October. In September, the majority of SHIB holders held tokens for 1 to 12 months, while in October, the number of medium-term holders fell to 60% from previously 85%.
When the majority of asset holders are retail traders who prefer short-term profit rather than long-term holding, the market should expect more volatility to appear before long. Previously, U.Today reported that Shib and Doge remain the two most popular topics in the cryptocurrency industry. Community attention signals that retail interest is still present.
