Shiba Inu (SHIB) is showing positive momentum, reaching a six-week high that raises interest in market sentiment and investor behavior.
Increase in SHIB Price
At the start of the week, the price of Shiba Inu (SHIB) surged to $0.00001416, marking the highest level since late May. This rise has captured the attention of investors and analysts.
Analysis of Coin Holding Time
According to IntoTheBlock data, the holding time of transacted SHIB coins surged by 783% over the past week, indicating a shift in market behavior and investor sentiment. This metric reflects the average time coins are held before being sold or traded.
Long-Term Outlook and Investor Confidence
The average holding time for Shiba Inu is 2.8 years, suggesting a long-term approach by traders. A high holding time may indicate investor confidence in the long-term prospects of the cryptocurrency and expectations for its value growth.
The data regarding the holding time of SHIB coins and their price indicates that investors remain confident in the long-term prospects of this cryptocurrency, despite short-term fluctuations.
