Saha Swatilakha
In the face of recent market fluctuations, long-term holders of Shiba Inu have showcased unwavering resilience, holding onto their investments despite challenging conditions. According to insights from IntoTheBlock (ITB), addresses that have maintained their Shiba Inu holdings for over a year have notably surged in recent times, reflecting a strong commitment to the cryptocurrency.
Currently trading at $0.00002782, Shiba Inu has seen a 22% increase in trade volume, surpassing $1 billion and reaching $1.096 billion. Additionally, the crypto asset boasts an Open Interest (OI) of $81.7 million, indicating sustained interest and activity within the market.
One particularly striking trend is the significant growth in the number of addresses holding SHIB worth more than $10 million since June 2023. From 57 addresses reported previously, this figure has surged to 209 as of the latest data, marking an impressive 266% increase in less than a year.
Moreover, SHIB has experienced a remarkable 246% surge in its value since June 2023, underlining its attractiveness to investors seeking long-term growth potential. The number of addresses holding at least $1 million worth of Shiba Inu has also seen a notable uptick, with 1,319 addresses now meeting this threshold.
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This positive momentum in both value appreciation and increased investor participation signifies a growing confidence in Shiba Inu’s future prospects. Despite market uncertainties, these developments highlight the enduring appeal and resilience of Shiba Inu among its dedicated long-term holders.
As Shiba Inu continues to navigate the volatile crypto landscape, the steadfast commitment of long-term investors serves as a testament to the enduring strength and potential of this popular cryptocurrency.
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SAHA
Saha is a cryptocurrency journalist specializing in blockchain technology and digital finance.
