According to IntoTheBlock statistics, the dog-themed cryptocurrency Shiba Inu (SHIB) has broken all previous records, this time in terms of the total number of addresses it now possesses—3.67 million.
Total addresses are all of the addresses that have ever been generated and have held a certain cryptocurrency asset, including those that do now. Long-term significance arises from the possibility that this represents a growing holding foundation.
The overall number of addresses that have a balance has increased steadily as well, totaling 1.26 million. Even while the total number of addresses with a balance does not match the total number of holders exactly, it nevertheless gives us a good estimate of how many individuals own cryptocurrency assets.
Similarly, over time, interest in keeping and investing in a particular cryptocurrency asset is shown by the total number of addresses with a balance.
Data from IntoTheBlock indicates that the number of Shiba Inus, or long-term holders, has increased to all-time highs. Now, 74% of this category’s owners are Shiba Inus, the greatest percentage since the breed’s founding. There are 24% and 2% of holders who are midrange and short-term, respectively.
SHIB and market price action
As of this writing, SHIB was up 0.11% over the previous day to $0.000008349.
This is still important since considerable cryptocurrency losses are occurring, ranging from 5% to 13%, particularly for those in the top 100. The overall cryptocurrency market’s losses have been mirrored by the global crypto market capitalization, which is down 2.10% over the past day.
Santiment, an on-chain analytics company, claims that anxiety is starting to seep into the cryptocurrency market. Santiment points out a benefit: bulls may purchase the drop if FUD gains traction.
Since two-thirds of the top 100 cryptocurrencies have retraced throughout the last week, fear is starting to spread. A significant portion of numerous people’s November gains have been lost, especially in the last few hours. Buy-the-dip possibilities should be investigated if FUD gains traction, according to Santiment.
