Shiba Inu Investors Enter the Ecosystem for the Long Run: Here’s the Average Period of Holding SHIB
75% of SHIB investors jumped on the bandwagon more than a year ago.
The meme coin’s price retreat of around 20% on a weekly scale has resulted in a diminishing chunk of investors who currently sit on paper profits. Latest data shows that around 38% of SHIB holders are underwater. Still, the current trends look much better than the ones observed in September last year.
As CryptoPotato reported, back then almost 90% of Shiba Inu investors were in the red.
Despite not performing quite well lately, several factors hint that a renewed SHIB bull run might be just around the corner. One such element is the asset’s burn rate, which exploded in the past week and throughout March.
The resurgence of Shibarium is also worth mentioning. Shiba Inu’s layer-2 scaling solution has witnessed a substantial revival in the last few days, with daily transactions on the network nearing the 1 million mark.
Last but not least, SHIB’s exchange netflow has turned predominantly negative on a weekly basis, indicating a shift from centralized platforms to self-custody methods. Such a move is considered bullish since it reduces the immediate selling pressure.
$SHIB