Amid market volatility, a shift in Shiba Inu investors' behavior is observed, characterized by an increase in the average holding period of tokens. This may indicate a stronger belief in the asset's long-term prospects.
Change in Investor Behavior Patterns
According to data from IntoTheBlock, the average holding period for SHIB tokens has increased by 106%. This marks a clear shift from short-term speculation to long-term holding among investors. Longer holding periods contribute to reduced market volatility, as fewer tokens are in active circulation.
SHIB Token Price Analysis
From a technical standpoint, SHIB continues to trade below its major moving averages. Recent price fluctuations show that the token has risen 46% this week and is currently around $0.000011. Low trading volume may indicate uncertainty in the market, but such quiet periods often precede changes in market sentiment.
Current Support and Resistance Levels
The current price of the token hovers around the psychologically significant level of $0.000011. If SHIB can hold this level as support, it may test the next resistance levels of $0.00001299 and $0.00001374. Surpassing these levels could confirm a significant trend change.
The changes in SHIB investors' strategies may signal the token's maturity and its potential for future growth. By maintaining confidence in their investments, investors contribute to reducing market volatility.
