Holders of Shiba Inu (SHIB) Benefit from Bullish Sentiments
Overview:
Backed by generally positive market sentiments, meme cryptocurrency Shiba Inu (SHIB) is demonstrating strength in the short term, propelling the token to shed a zero as it continues to rank among the best-performing digital assets at the moment.
Pre-Movement:
Before the recent movement, SHIB had exhibited a sideways trading pattern as investors awaited a possible breakout amid notable onchain developments aimed at giving the coin more utility.
Holders' Profit:
- 77% of current SHIB holders have held their tokens for over a year.
- 20% of holders have held SHIB between one and 12 months.
- 3% of holders have held SHIB for less than a year.
Key Metrics:
SHIB ranks third highest in trading volume, with recent surges in social interactions indicating a growing interest. Ongoing network development, token burning initiatives, and the introduction of new products contribute to SHIB's value proposition and price dynamics.
Price Analysis:
Despite trading at $0.000020 with minor daily losses of 1%, SHIB has experienced a 120% rally on the weekly chart, emphasizing the current bullish momentum.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.