• The majority of SHIB long-term holders profit significantly

  • Despite SHIB’s recent volatility, those who held their cryptocurrency from last year are now reaping massive profits.

    According to IntoTheBlock.com intelligence, 69 percent (which equates to 688.89K addresses) of SHIB holders have now made a profit, 10 percent (94.4K addresses) have broken even, and 21 percent (210.17K addresses) have lost money on investments. Furthermore, of those who purchased when SHIB was between $0.000039 and $0.000052, 39.2 percent (48.46K addresses) profited, 60.6 percent (74.81K addresses) lost, and 128 addresses (approximately 12%) broke even. The total adjusted aggregated volume in USD measured from on-chain SHIB transactions exceeding $100,000 in the last 24 hours was $1.54B.

    This means that if $100,000 was sent from address A to address B and then returned to address A, the adjusted aggregated volume would be zero. This indicates the total amount of money transacted by whales and institutional investors in a given day. In the previous seven days, there were 117 SHIB investors who bought more than 1% of total volume traded, and 177 investors who sold more than 1% of total volume traded.

    A SHIB token is held for an average of 4.4 months. There are 88 addresses classified as Hodlers, meaning they have had their SHIB for a year or more. There are 768.24K addresses that keep their SHIB for one to twelve months. There are 225.14K addresses with SHIBs that have been active for less than one month. The weighted average holding time of hodlers peaked in November 2021, at 1.2 years. On November 20 and 26, 2021, there was overwhelming positive sentiment on SHIB’s Telegram, as measured by a machine learning algorithm that tracks users’ posts in key Telegram groups for positive connotations about SHIB.

    After reaching an all-time high on Oct. 28, 2021, SHIB has had a rollercoaster month in November. This would encourage traders, not hodlers, to buy and sell in quick succession. The low price of SHIB would make it more appealing to traders and investors who don’t have a lot of money to lose. Intuitively, many holders who purchased SHIB would have done so during dips between May 24, 2021 and September 3, 2021, as well as when SHIB was first launched. SHIB gained the most yesterday when compared to the other top 99 cryptocurrencies by market capitalization, but it has since dropped the most. At the time of writing, IntoThe Block indicates that sentiment is leaning bearish.

    The listing of Kraken causes a temporary surge.

    SHIB was listed on Kraken on Tuesday, December 1, 2021, making it tradeable against the US dollar and the Euro, causing its price to rise above $0.00005127. The deposit is 373000 SHIB, and the minimum trade is 50000 SHIB. SHIB has already been added to Gemini, Binance, and KuCoin, and Shibswap is a DEX platform that contains many SHIB. On the Ethereum blockchain, NFTs are also being minted.

    The Metaverse is being explored by SHIB’s developers.

    Assume you invested $100 when SHIB launched on August 1, 2020, at a price of $0.00000000051, and you now have holdings worth more than $9.5 million! SHIB SHIB’s creators believe the token has a place in the metaverse and have recently appointed David Volk, a former Activision Vice President of Technology, to expand its utility beyond that of a meme token by investigating play-to-earn gaming options.

    According to CoinMarketCap, SHIB now has over a million holders and 14645 active addresses.

    What's your reaction?