687,170,000,000,000 Shiba Inu (SHIB) Now in Hands of Long-Term Holders: On-Chain Data

A leading analytics firm reveals that hundreds of trillions of Shiba Inu (SHIB) tokens are now in the safekeeping of holders with a long-term investment horizon.

IntoTheBlock shows that hodlers, or entities that have held their SHIB stacks for over a year, collectively own 687,170,000,000,000 SHIB worth over $7.20 billion.

According to the analytics firm, the investor cohort controls nearly 70% of Shiba Inu’s circulating supply.

IntoTheBlock also shows that cruisers, or market participants that have been holding their Shiba Inu troves for a period of one to 12 months, own 232,540,000,000,000 SHIB worth more than $2.43 billion. According to the intelligence firm, cruisers account for 23.65% of SHIB’s supply.

As for traders, or entities who hold their Shiba Inu for less than one month, IntoTheBlock reveals that they currently control 63,550,000,000,000 SHIB to the tune of $666.63 million. Traders also own 6.46% of SHIB’s supply, per the intelligence firm.

IntoTheBlock also reveals that only 28% of SHIB holders are making money at Shiba Inu’s current price, with 68% sitting on losses. About 4% of SHIB owners are just breaking even.

At time of writing, SHIB is trading for $0.00001049, a slight increase in the last 24 hours. Shiba Inu remains down over 87% from its all-time high of $0.00008616, which it printed in October 2021.

Generated Image: Midjourney