Despite Shiba Inu’s recent price fluctuations, most investors have remained resilient, holding the token for more than a year.
The Bitcoin-led relief rally has positively impacted the prices of major assets like Shiba Inu (SHIB). Fresh data from CoinMarketCap shows that SHIB’s price has soared by 5.87% over the past 24 hours to $0.00001542.
However, its weekly performance is not impressive, as Shiba Inu’s price has only increased by 2.87% within this timeframe. Further, Shiba Inu has experienced a surge of 23.02% in the past 30 days. However, the canine-themed token is still down 27.1% year-to-date and 37.9% in the past six months.
Despite this, investors’ faith in the asset has not declined, with many anticipating a massive price spike in the future. The growing confidence in Shiba Inu is reflected in the number of long-term investors currently backing the token.
Addresses Holding 787T SHIB for Over a Year
Fresh data from IntoTheBlock (ITB) confirms that there are about 1.45 million Shiba Inu on-chain addresses holding SHIB. Of this amount, 1.13 million addresses are long-term holders who have held Shiba Inu for over a year. Based on the duration of their holdings, ITB labeled them as ‘holders.’
According to the data, these 1.13 million addresses hold a combined 787.39 trillion SHIB tokens, which represents 79.91% of the total 985.3 trillion SHIB held on–chain. The data shows that most Shiba Inu investors are holding the token for the long term.
Shiba Inu Addresses by Ownership
While IntoTheBlock suggests that 1.13 million addresses hold about 787.39 trillion SHIB tokens, it is worth mentioning that this data comprises both active and inactive tokens, including those in Shiba Inu’s official burn address.
The official burn wallet currently holds roughly 410.74 trillion SHIB tokens. Although these tokens have been permanently removed from circulation, they will still appear in on-chain data captured by blockchain analytics platforms like IntoTheBlock.
Currently, Shiba Inu still has a circulating supply of approximately 589.25 trillion tokens.
Short-Term SHIB Holders
According to IntoTheBlock data, roughly 288,500 addresses have been holding a combined 171.59 trillion SHIB tokens for one to twelve months. Interestingly, ITB classified this category of Shiba Inu investors as ‘cruisers.’
On the other hand, 25,760 addresses are short-term traders who currently hold about 26.33 trillion SHIB for less than a month.
Shiba Inu Addresses by Time Held
The significant number of long-term Shiba Inu holders and their holdings signal investors’ optimism in SHIB. Despite short-term price fluctuations, these investors have held on to their SHIB assets for an extended period.
Their confidence is mainly driven by Shiba Inu’s prospects for huge price spikes, as observed in the 2021 market cycle. Another factor fueling investors’ optimism in Shiba Inu is the optimistic price projections from top experts.
Notably, most analysts, like Eunice Wong, predict that SHIB’s price would climb to around $0.0001 this bull cycle, representing a surge of 548.5% from the current price.
Shiba Inu Address Holdings in USD
Meanwhile, IntoTheBlock also provided insight into the U.S. dollar value of investors’ Shiba Inu portfolios. Out of Shiba Inu’s total on-chain addresses, 203,500 hold SHIB worth less than $1, while 225,730 of these wallets control SHIB portfolios valued between $1 and $10.
Nearly 568,000 addresses have Shiba Inu portfolios valued at around $10 – $100. About 350,900 addresses own tokens worth between $100 and $1,000, while 95,190 wallets hold SHIB worth $1,000 – $10,000.
11,310 address control portfolios containing SHIB worth $10,000 and $100,000 each. However, the number of addresses holding $100,000 worth of tokens and above is even lower.
For instance, about 1,470 addresses hold SHIB valued between $100,000 and $1 million. In addition, 857 wallets hold SHIB worth $1 million to $10 million each. Only a few addresses, 71, hold Shiba Inu tokens worth $10 million and above.
Shiba Inu Address Holdings in USD
