Shiba Inu (SHIB): Long-Term Holders Selling Amidst Potential Downturn?

Shiba Inu (SHIB) struggles with a 3-month downtrend as long-term holders sell, raising concerns about its future. Resistance at $0. may hinder recovery. Is the meme coin losing its grip, or is this a temporary market correction?

Despite facing a challenging period with declining prices, Shiba Inu (SHIB) continues to have a strong foundation of long-term holders. Recent data reveals that 78% of SHIB is held by long-term investors, suggesting enduring belief in the project's potential. But are these HODLers wavering?

According to recent data from IntoTheBlock, long-term Shiba Inu holders – those retaining their tokens for over a year – now collectively own more than 80% of the total supply. However, recent analysis points to a shift. There are signs that some of these long-term holders are beginning to sell off their SHIB holdings, potentially contributing to the recent price downturn.

IntoTheBlock data reveals that Hodlers’ balances have reached an all-time high of 787.6 trillion SHIB, out of a total held balance of 984.7 trillion SHIB. This seemingly contradictory data point needs further investigation. While the overall Hodler balance is high, the increase in selling volume suggests that at least a segment of these long-term holders are cashing out.

In the face of recent market fluctuations, long-term holders of Shiba Inu have showcased unwavering resilience, holding onto their investments despite challenging conditions. However, the narrative is becoming more nuanced. Selling Pressure Eases as Shiba Inu Holders seemingly adopt a wait-and-see approach. The Shiba Inu holders are increasing their average holding time, signaling confidence in the asset’s long-term potential for the majority, but the actions of a smaller, but influential group are causing concern.

Hace 6 días Shiba Inu (SHIB) has stabilized following significant price volatility, establishing a consolidation pattern between $0. and $0.. The meme token faced intense volatility, and now appears to be in a holding pattern. This consolidation could indicate a period of accumulation before another potential surge, or a sign of further decline if selling pressure continues.

The question remains: Is this a temporary pullback driven by profit-taking from early investors, or a sign of waning confidence in Shiba Inu's long-term prospects? Investors should closely monitor market trends and news surrounding the Shiba Inu ecosystem to make informed decisions. The conflicting data points regarding long-term holders highlight the complexities of the current market and the importance of conducting thorough research before investing.