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SHIB Plunges 15% in a Week but Long-Term Holders Remain Unfazed
Despite the recent price decline of Shiba Inu (SHIB), which has dropped by over 15% within the past week alone, long-term investors have remained resolute in their conviction. This phenomenon is particularly noteworthy given the turbulent market conditions that have gripped the cryptocurrency space as a whole.
The coin’s value surged in late March to reach an all-time high of $0.000015 before plummeting down to $0.000012 at the time of writing, owing partly to the unexpected announcement by US President Donald Trump regarding new tariffs on imports from 50 countries, including the BRICS and the European Union. Notwithstanding these developments, long-term SHIB holders have demonstrated remarkable steadfastness.
According to recent data released by IntoTheBlock, an impressive 80% of the total SHIB supply is now held by investors who have been retaining their tokens for over a year. This significant concentration amongst this group underscores a profound trust in the asset’s potential for future growth.
Source: https://cryptopotato.com/shib-plunges-15-in-a-week-but-long-term-holders-remain-unfazed/
