Shiba Inu Hodling
Shiba Inu hodlers, or addresses that have been the same for more than a year, showed a positive 11.97% change over the past 30 days, according to data. However, within the same time frame, there was a reduction in the proportion of short- and medium-term holders. The abbreviation “hodl,” which is short for hold and implies hang on for dear life, has become popular among those who acquire and retain bitcoins. Hodling, which denotes a long-term strategy for holding cryptocurrencies, typically emerges from convictions or views about a project’s long-term potential.
4% of SHIB holders have held onto their tokens for less than a month, while 28% of holders have “hodled” their tokens for less than a year, according to statistics on holder composition by time held. 27% of Shiba Inus are long-term owners or ‘hodlers.’
Trade Volumes Increased by 509%
The 30-day Bitcoin correlation index indicates that Shiba Inu is steadily decoupling from Bitcoin after its most recent rise. On August 14, Shiba Inu had considerable market growth, climbing by roughly 35% from lows of $0.0000126. Shib rose to a high of $0.0000179 on August 15 before falling again. At the time of writing, the cost of Shiba Inu has increased by 2% to $0.0000155.
Shiba Inu was demonstrating a 0.62, or 62%, price connection with Bitcoin, a decline of about 30%, according to data. In the previous week, this figure was 0.9, or 90%.
Shiba Inu’s price movement is probably not going to be determined by the market’s overall direction, as indicated by a persistent dissociation from the Bitcoin market. According to data, SHIB was one of the top 10 tokens that the 100 largest ETH whales bought on the most recent day. Research of the top 100 Shiba Inu owners shows that trade volumes have increased by 509% and netflow has increased by 771.88%.
Source: https://www.thecoinrepublic.com/2022/09/19/shiba-inu-investors-bullish-on-the-token/