In the cryptocurrency market, Shiba Inu (SHIB) shows steady growth, hitting a six-week high, linked to a change in holder behavior.
Price Surge of Shiba Inu
On Monday, the price of Shiba Inu (SHIB) surged sharply, reaching $0.00001416. This increase marks its highest level since late May, indicating changing sentiments among token holders.
Increase in Holding Time of SHIB
According to IntoTheBlock data, the average holding time of SHIB tokens jumped 783% in the past week. This reflects growing investor confidence in the long-term prospects of the token. This metric indicates the time coins are held before being transferred or traded.
Long-Term Investor Strategies
Long-term investors are beginning to dominate the market. The average holding time of Shiba Inu tokens across wallets now stands at 2.8 years. This indicates that the majority of token holders are keeping their assets for a significant duration, potentially leading to lower price volatility and market stabilization.
As a result of the dramatic increase in holding time and price rise, Shiba Inu demonstrates signs of creating a more stable and confident market. Future changes in holding strategies may impact its dynamics.
