Shiba Inu Surpasses Bitcoin, Ethereum in Long-Term Holders, 75.8% Hold for Over 155 Days
2min read Shiba Inu (SHIB) has surpassed Bitcoin (BTC) and Ethereum (ETH) in the percentage of long-term holders, indicating a growing investor confidence in the memecoin. As of March 21, 75.8% of SHIB addresses have held their tokens for over 155 days, surpassing Ethereum’s 74.2% and Bitcoin’s 73.3%. This data suggests that more investors are now viewing SHIB as a long-term asset rather than a short-term speculative play.
A deeper analysis of the data reveals a strong trend toward long-term investment in SHIB. Only 2% of holders have owned SHIB for less than a month, while 22% have held it for 1 to 12 months, and 76% for over a year. Among newer cryptocurrencies, SHIB now boasts the longest average holding period at 2.6 years, surpassing Ethereum’s 2.4 years, though Bitcoin still leads at 4.4 years. Only Litecoin (LTC) and Chainlink (LINK) have a higher percentage of long-term holders, at 77.7% and 77.5%, respectively.
One key driver of SHIB’s long-term appeal is Shibarium, the project’s Layer 2 scaling solution. Adoption of Shibarium has surged, with daily sign-ups skyrocketing over 4,000%. Transaction volumes have also increased significantly, jumping 61% in a month. Meanwhile, smart contract deployments have soared 800%, with new contracts rising from 12 to 109 per day. This rapid growth underscores the rising developer interest in building decentralized applications (dApps) on Shibarium, further strengthening the Shiba Inu ecosystem.
Beyond network growth, SHIB’s increasing long-term holder base aligns with improving crypto regulations, particularly in the U.S. Recent developments, such as the establishment of a U.S. crypto research body, have also boosted investor confidence, with the SHIB community hopeful SHIB will be added at some point. Speculation is also mounting around a potential Shiba Inu ETF, with growing community advocacy for its approval.
Despite this optimism, SHIB’s price has faced bearish pressure, dropping 6.55% in the past 24 hours to $0.00001424 at press time. However, analysts like Master Ananda believe SHIB is approaching a key support level and could rebound soon. “The market bottom was hit in June 2023, and since then, we’ve seen higher highs and higher lows,” Ananda noted. “The 2024 corrective phase is coming to an end, and SHIB is poised for a bullish breakout.” According to Ananda, if history repeats itself, SHIB could rally 600% or more from its current levels, mirroring the 1,800% surge that followed its June 2023 bottom.
Shiba Inu has recently demonstrated remarkable growth in its long-term holder base, outpacing both Bitcoin and Ethereum. This surge in long-term holders indicates a growing confidence in the meme coin's potential for sustained value appreciation. The increase in long-term holders suggests that investors are increasingly viewing Shiba Inu as a viable store of value, similar to how Bitcoin is perceived. This shift is significant as it reflects a maturing market sentiment towards Shiba Inu, moving away from its initial reputation as a speculative asset.
The growth in long-term holders of Shiba Inu is particularly noteworthy given the current market conditions. While Bitcoin and Ethereum have faced challenges, with short-term holders experiencing financial pressure and realized losses, Shiba Inu has managed to attract a steady influx of long-term investors. This trend highlights the resilience of Shiba Inu in the face of broader market volatility and underscores the coin's appeal to investors seeking long-term growth.
The community loyalty and status of Shiba Inu have played a crucial role in its ability to attract long-term holders. The meme coin's compatibility with a wide range of decentralized applications, built on top of the Ethereum blockchain, has also contributed to its growing appeal. This technical foundation provides Shiba Inu with the flexibility to integrate with various decentralized finance (DeFi) platforms, further enhancing its utility and potential for long-term growth.
The shift towards long-term holder accumulation in Shiba Inu is a positive sign for the coin's future prospects. As more investors adopt a long-term perspective, the likelihood of sustained price appreciation increases. This trend is particularly encouraging given the current market dynamics, where short-term holders of Bitcoin and Ethereum are facing financial pressure. The growing number of long-term holders in Shiba Inu suggests that investors are increasingly confident in the coin's ability to deliver long-term value, positioning it as a strong contender in the cryptocurrency market.
