Shiba Inu’s Solid Base: Over 2/3 of $SHIB Circulating Supply Held by Long-Term InvestorsMarch 29, 2023
New data from leading analytics firm IntoTheBlock reveals that a substantial number of Shiba Inu (SHIB) tokens are now held by long-term investors, demonstrating the token’s growing appeal among holders with a longer investment horizon.
Shiba Inu is a decentralized cryptocurrency project inspired by the popular internet meme of the Shiba Inu dog breed. Launched in 2020, it was created as an alternative to Dogecoin on the Ethereum blockchain. The main token of the Shiba Inu ecosystem is $SHIB, which is an ERC-20 token. The project also features a decentralized exchange called ShibaSwap, an NFT art incubator, and an NFT-based game, among other components.
An article published in The Daily Hodl earlier today (March 29) reports that new data from crypto analytics startup IntoTheBlock (ITB) reveals holders who have kept their $SHIB tokens for over a year collectively own 687.17 trillion $SHIB, worth over $7.20 billion. These long-term holders control nearly 70% of Shiba Inu’s circulating supply.
The Daily Hodl article says that ITB data indicates that cruisers, or market participants holding their Shiba Inu tokens for one to 12 months, own 232.54 trillion $SHIB, worth more than $2.43 billion. These cruisers account for 23.65% of the token’s supply.
Regarding traders — those who hold Shiba Inu for less than one month — ITB reveals they control 63.55 trillion $SHIB, amounting to $666.63 million. These short-term traders own 6.46% of the token’s supply.
The Daily Hodl article goes on to say that per ITB data, only 28% of $SHIB holders are currently profiting at the token’s current price, while 68% are experiencing losses. About 4% of $SHIB owners are just breaking even.
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