Majority of SHIB Long Term Holders See Substantial Profits

Source : beincrypto.com

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Despite SHIB’s recent volatility, those who held their crypto from last year now see staggering profits.

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According to intelligence from IntoTheBlock.com, 69% (which equates to 688.89K addresses) of SHIB holders are now sitting with gains, 10% (94.4K addresses) have broken even, and 21%(210.17K addresses) have lost money on investments. Also, of those who bought when SHIB was between $0.000039 and $0.000052, 39.2% (48.46K addresses) have seen a profit, 60.6% (74.81K addresses) see a loss, and 128 addresses or approximately 12% broke even. In the last 24 hours, $1.54B is the total adjusted aggregated volume in USD measured from on-chain SHIB transactions exceeding $100,000.

This means that if $100000 was sent from address A to address B, and address B sent the funds back to address A, the adjusted aggregated volume would be zero. This gives an indication of the total amount transacted by whales and institutional investors in a given day. In the previous seven days, there have been 117 investors in SHIB who have bought more than 1% of total volume traded, and 177 investors who have sold more than 1% of the total volume traded.

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The average time a SHIB token is held is 4.4 months. There are 88 addresses that are classified as Hodlers, holding their SHIB for a year or more. There are 768.24K addresses that hold their SHIB for 1-12 months. There are 225.14K addresses that hold their SHIB for less than one month. Hodlers’ weighted average holding time peaked in Nov. 2021, at 1.2 years. There was overwhelming positive sentiment on SHIB’s Telegram on Nov. 20, and Nov. 26, 2021, measured via a machine learning algorithm that tracks users’ posts in key Telegram groups for positive connotations about SHIB.

SHIB has experienced a rollercoaster month in November, after reaching an all-time high on Oct. 28, 2021. This would encourage buying and selling in quick succession, the purview of traders, not hodlers. SHIB’s low price would make it more attractive to investors who don’t have a lot of money to lose, who are typically traders. Intuitively, many holders who bought SHIB would have done so during dips between May 24 2021, and Sep. 3, 2021, and when SHIB was initially launched. Yesterday, SHIB gained the most compared to the other top 99 cryptocurrencies by market capitalization, but today showed the most significant decline. IntoThe Block suggests sentiments are trending toward bearish at the time of writing.

Kraken Listing Results In Temporary Surge

Kraken listed SHIB on Tuesday, Dec. 1 2021, making it tradeable against the U.S. Dollar and Euro, which caused its price to surge above $0.00005127. The minimum deposit is 373000 SHIB with a minimum trade of 50000 SHIB. Gemini, Binance, and KuCoin have already added SHIB, while Shibswap is a DEX platform containing many SHIB. NFTs are also being minted on the Ethereum blockchain.

Suppose one invested $100 when SHIB launched on Aug. 1, 2020, at a price of $0.00000000051, one who would now have holdings worth over $9.5M! SHIB SHIB’s creators see a place for the token in the metaverse and have recently appointed David Volk, the former Activision Vice President of Technology, to increase its utility beyond that of a meme token by exploring play-to-earn gaming options.

SHIB now has over 1 million holders, with 14645 active addresses, according to CoinMarketCap.

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