A renowned analytics firm discloses that hundreds of trillions of Shiba Inu (SHIB) tokens are currently in the custody of long-term investors.
According to IntoTheBlock, long-term holders, referred to as hodlers, currently possess 687,170,000,000,000,000 SHIB worth almost $7.20 billion. This investment group is estimated to own around 70% of the circulating Shiba Inu supply.
IntoTheBlock’s data shows that market participants known as “cruisers,” who have held their Shiba Inu tokens for a duration of one to twelve months, possess 232,540,000,000,000 SHIB tokens, which equates to over $2.43 billion. This accounts for 23.65% of the total SHIB supply.
According to data from IntoTheBlock, entities who have owned Shiba Inu for less than a month currently have control over 63,550,000,000,000 SHIB, which is equivalent to $666.63 million. Traders hold 6.46% of the supply of SHIB, according to the intelligence firm.
Furthermore, according to IntoTheBlock, only 28% of SHIB holders are profiting from Shiba Inu’s price, while 68% are awaiting losses. Just 4% of SHIB owners are breaking even.
SHIB is currently trading for $0.00001061, a minor decline over the previous day. Shiba Inu has experienced a decline of over 87% since it reached its peak of $0.00008616 in October 2021.