The cryptocurrency market is currently undergoing a volatile period, and Shiba Inu is no exception. Despite falling prices and dwindling interest from small investors, the SHIB token maintains a loyal community.
Long-term Holders of Shiba Inu
59% of current holders of Shiba Inu are 'out of the money,' meaning they bought their tokens at a higher price. However, 78% have held their tokens for over a year, reflecting long-term confidence in the cryptocurrency.
Weak Dynamics and Decreasing Interest
Transaction volume dropped by 2.61% to reach $133.6 million. The number of new crypto investors remains marginal, increasing by only 2% over the last month, indicating waning public interest, particularly among retail investors. Community engagement is also declining, as evidenced by the drop in Telegram subscribers.
Necessary Steps for Recovery
To reverse the current trend, Shiba Inu will need to demonstrate its ability to develop independently of Bitcoin prices, strengthen its community, enhance visibility, and offer concrete innovations.
The situation of Shiba Inu reflects contradictions in the current crypto market. Its future will depend on its ability to rekindle the interest of small holders and break free from the overall bearish market.
