Shiba Inu also reclaimed position of 13th largest cryptocurrency
To Shibburn Website, the burn rate of the Shiba Inu has increased by 443%. However, only 14,089,818 SHIBs have been burnt in the last 24 hours.
Shiba Inu (SHIB) continued its journey upward, reaching an intraday high of $0.00001283 at the time of writing. This was the highest in over six weeks. Shiba Inu also rallied for the second consecutive day as attention shifted to meme cryptocurrencies.
A year ago, on October 28, 2021, the Shiba Inu rose to an all-time high of $0.000088 in an impressive bull run. At the time of publication, SHIB was trading up 11.88% at $0.0000122. The Shiba Inu also reclaimed the position of the 13th largest cryptocurrency.
Despite the impressive move in SHIB, it remains 86% down from its all-time highs, being no different from other cryptocurrencies that have been buffeted by bearish market conditions prevailing since the start of 2022.
Despite the drop in prices, it has been a significant year for SHIB so far. This year has seen the launch of new projects and partnerships: SHIB Metaverse, Valley Franchise, Shiba Inu Burn Portal, Shiba Eternity Launch and others.
SHIB sets new milestone
According to IntoTheBlock data, SHIB is now seeing its highest percentage of long-term holders, setting a new milestone in the metric. The percentage of long-term holders, or “hodlers,” has jumped to 42%, the highest so far, while that of midterm speculators continues to decline. Meanwhile, the percentage of short-term holders has held relatively steady.
According to IntoTheBlock’s data on holder structure over time, 42% of SHIB holders have “hold” their tokens for more than a year, 55% have held within a year, and 3% have held a month. Holding on to your token for less than In the week, U.Today reported that the percentage of holders stood at 38%, thus this category of holders has seen significant growth in just a few days.
