Despite recent market underperformance, Shiba Inu holders are showing remarkable resilience, refusing to sell their coins. As bullish sentiment grows, SHIB aims for a new all-time high (ATH) of $0.00009.
Key Points
- Shiba Inu's holder retention rate has reached 96%, indicating strong holding sentiment.
- The number of SHIB holders has increased during price declines, now totaling 1.53 million.
- While overall holders are rising, whale holdings are decreasing, potentially affecting market supply and demand.
- Analysts predict SHIB could rally over 500%, nearing its ATH.
- SHIB's current trading price is approximately $0.00001230, showing signs of recovery.
In-Depth Analysis
According to Glassnode, Shiba Inu's holder retention rate stands at 96% and has been on an upward trend over the past 30 days. This suggests that despite SHIB's poor price performance, many investors have chosen not to sell, opting instead to hold or accumulate more. This trend is relatively rare in the crypto market, where investors often sell during downturns.Santiment's data further indicates that despite SHIB's price challenges, the number of holders continues to rise, reflecting long-term confidence in the coin. Currently, there are 1.53 million SHIB holders, indicating that the community's faith has not been shaken by price fluctuations.
However, it is noteworthy that whales (those holding over 10 million SHIB) are offloading their holdings, leading to more inflows than outflows in the market. This phenomenon may exert pressure on prices, as a supply greater than demand could hinder short-term upward momentum.