- Long-term Shiba Inu holders witness a positive growth of 11.97% as per data revealed recently.
- Following its recent surge, the 30-day Bitcoin correlation index shows Shiba Inu is steadily decoupling.
- SHIB registers itself among the top 100 tokens whose trading volume has surged significantly.
Shiba Inu “hodlers,” or addresses that have been held for more than a year, have shown a positive 11.97% change in the last 30 days, according to IntoTheblock data. However, the number of short- and medium-term holders fell during the same time period.
The phrase “hodl,” a misspelling of “hold,” which implies “hold on for dear life” in the sense of buying and holding cryptocurrencies, became a tagline among cryptocurrency enthusiasts. “Hodling” is a long-term framework for cryptocurrency holding that usually stems from convictions or beliefs about a project’s long-term prospects.
IntoTheBlock’s data associated with holder composition by time held shows that 4% of SHIB holders have held onto their tokens for less than a month, and 28% have “hodled” their tokens for less than a year, and 68% have held their tokens for less than a year.
Furthermore, a week ago, it was revealed that 27% of Shiba Inus were “hodlers,” or long-term owners.
The correlation between Shiba Inu and Bitcoin declines by 30%
The 30-day Bitcoin correlation index indicates that Shiba Inu is steadily decoupling from Bitcoin after its most recent surge.
On August 14, Shiba Inu experienced significant market growth, rising by about 35% from lows of $0.0000126. Shib rose to a peak of $0.0000179 on August 15 before falling back. At the time of publication, the cost of Shiba Inu had increased by 2% to $0.0000155.
Shiba Inu was displaying a 0.62, or 62%, price correlation with Bitcoin, a decline of almost 30%, according to IntoTheBlock statistics. In the previous week, it was reported that this value was 0.9, or 90%.
According to data from WhaleStats, SHIB was one of the top 10 tokens that the 100 largest ETH whales bought on the most recent day. WhaleStats’ analysis conducted for the top 100 Shiba Inu owners shows that trading volumes have increased by 509%, and Netflow has increased by 771.88%.