Shiba Inu (SHIB) might be gaining traction toward becoming “safe haven”

Shiba Inu (SHIB) has attained a historical high in terms of the proportion of long-term investors. The strongest hands, or “diamond hands,” have been tested by the adverse market conditions that have prevailed since the market opened in 2022.

Shiba Inu (SHIB): Historic Milestone Reached in This Metric as Whales Accumulate

According to IntoTheBlock, all Shiba Inu investors who have been hanging onto their tokens for at least more than a year are considered long-term holders, or “hodlers.” SHIB has made progress in this area since the start of the year, with the proportion of hodlers increasing from 1% to 55%.

A general lack of confidence across the board resulted from the adverse market conditions, which were made worse by significant crashes like that of Terra and FTX. The opposite seems true for Shiba Inu, since the number of “hodlers,” or firm holders, is rising.

For perspective, there are 44% and 31%, respectively, of long-term investors, or “hodlers,” for Litecoin and Polygon.

Shiba Inu (SHIB), according to recent research by security-focused ranking platform CertiK, may be moving closer to becoming a “safe haven.” Based on data from on-chain analytics studied by CertiK, it was concluded that SHIB, like most meme coins, is centered around its online community.

SHIB’s historic social sentiment was 79 out of 100, according to CertiK, indicating that the cryptocurrency online community “feels positive about it.”

SHIB ranks as the greatest holding for the biggest 5,000 ETH whales, who are “hodling” SHIB worth $76,984,166, according to WhaleStats.

shiba-inu-shib-might-be-gaining-traction-toward-becoming-safe-haven

SHIB/USD 4-hour chart | Source: TradingView

In the last 24 hours, SHIB was also in the top 10 most-bought tokens among the top 1,000 ETH whales. The price of SHIB at the time of writing was $0.0000092.

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