SHIB large holders seem to be making move on markets in last 24 hours
According to data from WhaleStats, the Shiba Inu continues to set new heights in its number of holders, which currently stands at 1,271,666. Of this number, 51% are “hodlers,” or long-term holders.
SHIB has set a new record in this metric, with the percentage of those that have held onto their assets for more than a year now outnumbering short- and midterm speculators.
According to IntoTheBlock’s data on holder composition by time, 51% of SHIB holders have “held” their tokens for more than a year, 43% within a year and 6% for less than a month. Have put your token on hold for the time being.
Although the number of holders may not have an immediate impact on price, it does represent long-term interest in an asset.
SHIB price weighs next move
After recovering from a low of $0.00000854 on Nov 14, SHIB maintained its rally to reach a high of $0.0000096 on Nov 16, when the bulls ran out of steam.
At the time of publication, SHIB was changing hands at $0.000009067, down 1.67% in the last 24 hours. SHIB’s daily RSI has flattened slightly below the neutral mark of 50, suggesting the possibility of range trading before the next move.
It looks like large holders of SHIB are taking the markets by storm, with a modest 16% increase in large transactions over the past 24 hours. According to IntoTheBlock, an increase in large transactions is typically associated with increased activity from whales, who are either buying or selling, and transactions typically exceed $100,000. If the big holders continue their activity in the coming days, SHIB may see another big move.
On the upside, bulls must clear the $0.00001071 and $0.00001168 levels to continue trending higher. On the other hand, a fall in the markets might see SHIB targeting the $0.000085 support ahead of the $0.0000082 mark.
