Shiba Inu demonstrating mild increase
According to data from CoinMarketCap, 11 trillion SHIB or 11,182,405,061,512 SHIB is worth $112,678,356 in the last 24 hours. The Shiba Inu (SHIB) has reclaimed the $0.00010 level after a brief decline at the $0.0000099 level.
At the time of publication, Shiba Inu was demonstrating a mild increase, up 1.06% at $0.000010. After reaching highs of $0.0000102 on Oct. 23 in a four-day positive move, the SHIB price turned down to trade below this key level once more.
Sellers pulled SHIB to a low of $0.0000985 on October 24th. The Shiba Inu is attempting to form a base at the $0.00000985 level as price failed to break below this level for the second day, which is today. The RSI has flattened below the midpoint, suggesting potential range trading before the next move.
The prices of Shiba Inu ecosystem tokens BONE and LEASH were also seeing mild increases in the last 24 hours, per CoinMarketCap data.
SHIB Long Term Holder Growth
SHIB continues to attract a large number of investors despite being down 88% from its all-time high. Crypto data tracker WhaleStats gives the current Shiba Inu holder number as 1,230,068, which means that the SHIB has gained more holders in recent months.
Shiba Inu “hodlers,” referring to addresses that have held SHIB for more than a year, have displayed growth since the start of 2022, from less than 4% to over 37% of holders.
According to IntoTheBlock’s data on holder structure over time, 37% of SHIB holders have “hold” their tokens for more than a year, 60% have held within a year and 3% have held for more than a month. Holding on to your tokens for a short period of time.
Long-term holders outnumbering short-term spectators might imply a shift in investor focus from a short-term view to a long-term one, which remains positive for Shiba Inu.
