Only 2%: This Shiba Inu (SHIB) Inu Metric Is Raising Questions
2024-10-24

Concern is being raised by Shiba Inu after a crucial on-chain metric provides an unexpected glimpse into the condition of its holders. Data shows that only 2% of SHIB holders are classified as short-term investors, which indicates that very little of SHIB's supply is being purchased and sold quickly.
Concerns and conjecture regarding the token's overall demand and prospects for future growth are being raised by this trend. A token like Shiba Inu, which is well known for its popularity surge based on memes, may be losing market share if there are not many active short-term traders, which usually indicates a low level of speculative interest.SHIBUSDT Chart by TradingView">
For a speculative asset like SHIB, dominance by long-term holders may indicate stability, which is generally viewed as a good sign. However, it may also indicate a decline in the excitement and hype surrounding the token. With key support levels appearing at $0.00001704 and $0.00001622, the price chart analysis indicates that Shiba Inu is holding above the $0.000017 level.
However, the asset is finding it difficult to generate enough momentum for additional growth. In spite of this, its long-term holders appear to be steadfast. Nevertheless, the selling pressure from these investors may push the price lower if short-term interest does not rise.
There are important ramifications for this data. SHIB might find it difficult to create the kind of movement that many investors desire in the short term without more active buyers. Additionally, if big holders start to sell off their holdings, this lack of enthusiasm could lead to price stagnation or even a decline.