Shiba Inu holders make a readjustment on the weekly chart as a potential price signal
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- Shiba Inu set to close out third consecutive positive week
- influx of shiba inu
The Shiba Inu has added new owners in recent weeks, but the dynamics of the composition of its holders are changing over time. This comes as the Shiba Inu has been recording more “hodlers,” who, according to IntoTheBlock, have held property addresses for over a year. Conversely, medium-term holders, or so-called swing traders, have rallied slightly, while short-term viewers have remained largely stagnant.
According to IntoTheBlock’s data on the composition of holders over time, 27% of SHIB holders have held their tokens for more than a year, 69% have held within a year, and 4% have held their tokens within a year. Has been held for less than a month.
Barely a week ago, U.Today reported the percentage of long-term holders of Shiba Inu as 26%, while the percentage of medium-term holders was 70% then, and only 4% at the time on their tokens for less than a month.
“Switching Sides” As far as long-term viewership exceeds short-term viewership, this could mean that investor attention has shifted from a short-term view to a long-term view.
Shiba Inu set to close out third consecutive positive week
The Shiba Inu is set to mark its third consecutive positive week since mid-July. Overall, the Shiba Inu has recorded five out of seven positive weeks since the end of June, when the prices took a hit. The Shiba Inu is currently trading in a triangle pattern with support near $0.0000071 on its weekly chart. A triangle pattern is a consolidation pattern that occurs in a midtrend, usually resulting in a breakout.
At the time of publication, SHIB was trading marginally higher at $0.0000121.
influx of shiba inu
Large Transaction Count is a useful metric for tracking transaction counts over $100,000. Since this amount is not available to the average retail trader on-chain, the indicator acts as a proxy for the number of whales and transactions of institutional players.
According to data from IntoTheBlock, there was a 162% increase in Shiba Inu trading volumes, indicating that potentially large volumes were bought by large companies within the past 24 hours. According to data from WhaleStats, the Shiba Inu was ranked among the top 10 most bought tokens by the 5,000 largest ETH whales.
Over 5000 Bought Tokens in Top 10 #ETH whale today
I $USDT
I $USDC
I $ETH
4️ $BUSD
5️ $stETH
6️ $MATIC @0xPolygon
7️ $paxg @paxosglobal
8️ $ hair @BalancerLabs
9️ $ gala @GoGalaGames
I $SHIB @ShibtokenWhale Leaderboard https://t.co/kOhHps8XBB pic.twitter.com/5cN1GwFudf
— WhaleStats (free data on crypto whales) (@WhaleStats) 6 August 2022
whalestats An analysis of the top 100 Shiba Inu holders indicates that the average SHIB balance and value for this category of holders increased by 26.73% and 28.29%, respectively, while the 24-hour trading volume for this category of addresses increased by 921% .