Shiba Inu Investors Hold Strong Despite 39.59% Yearly Loss

Recent blockchain data indicates that a significant portion of Shiba Inu (SHIB) investors are committed to holding their tokens for the long term, despite recent market fluctuations. This trend suggests enduring confidence in the asset’s future prospects. According to the latest figures, SHIB has seen a 3.92% increase in the past 24 hours, trading at $0.00001530. Over the last seven days, the token’s price rose by 3.88%, and it posted a 16.16% gain in the past 30 days. However, it remains down by 39.59% on a year-to-date basis and 37.9% over the past six months.

Despite this uneven performance, a notable portion of the investor base remains steadfast, maintaining their positions in anticipation of future price appreciation. Data from blockchain analytics platform IntoTheBlock (ITB) reveals that out of approximately 1.45 million on-chain SHIB addresses, around 1.13 million have held their tokens for more than a year. These addresses, classified as ‘holders’ by ITB, collectively own about 787.39 trillion SHIB, which equates to roughly 79.91% of the 985.3 trillion tokens held on-chain. This figure includes both active and inactive tokens, with the official SHIB burn address accounting for a substantial share, approximately 410.74 trillion SHIB. While these tokens are permanently removed from circulation, they are still recorded in blockchain datasets, contributing to the total shown in the analysis.

In contrast, roughly 288,500 addresses have retained SHIB for one to twelve months, labeled as ‘cruisers’ by ITB, holding a combined 171.59 trillion SHIB. Additionally, about 25,760 addresses are classified as short-term holders, having kept their SHIB for less than a month, and these traders currently control an estimated 26.33 trillion tokens.

The substantial volume of SHIB held by long-term addresses suggests continued optimism regarding the token’s future. Many of these holders remain hopeful that SHIB will experience significant price growth, similar to the dramatic surge seen during the 2021 bull market. Analyst predictions have further fueled this sentiment. For example, Eunice Wong has projected that SHIB could rise to $0.0001 in the current cycle, implying a potential gain of 548.5% from current levels.

ITB also provided a breakdown of SHIB portfolios by dollar value. Of all tracked addresses, approximately 203,500 hold SHIB valued at less than $1. Another 225,730 addresses have portfolios between $1 and $10, while nearly 568,000 hold SHIB worth between $10 and $100. In the $100 to $1,000 range, about 350,900 addresses are included, while 95,190 wallets contain SHIB valued from $1,000 to $10,000. Around 11,310 addresses control holdings worth between $10,000 and $100,000. Larger portfolios are less common, with about 1,470 addresses holding $100,000 to $1 million in SHIB. Furthermore, 857 wallets own SHIB worth between $1 million and $10 million, and only 71 addresses have SHIB portfolios exceeding $10 million. This distribution highlights a broad base of retail participation, with a small fraction of high-value holders maintaining large positions.

In summary, the data indicates that a significant portion of SHIB investors are holding their tokens for the long term, despite recent market fluctuations. This trend suggests enduring confidence in the asset’s future prospects. The substantial volume of SHIB held by long-term addresses, along with analyst predictions, further fuels optimism regarding the token’s future. The distribution of SHIB portfolios by dollar value highlights a broad base of retail participation, with a small fraction of high-value holders maintaining large positions. This analysis underscores the importance of long-term holding strategies in the cryptocurrency market and the potential for significant price growth in the future.