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Shiba Inu: 787T SHIB held by LTHs despite recent losses – Here’s why
Despite the recent market uncertainty and the memecoin’s struggle, Shiba Inu long-term holders (LTHs) have refused to sell their holdings. Despite a decline of 8.4% over the past month, SHIB has seen long-term holders’ balances and addresses hit an all-time high.
According to IntoTheBlock data, LTHs now hold a staggering 787 trillion SHIB, out of a total held balance of 984.7 trillion SHIB. This significant growth indicates that these investors continue to believe in the memecoin’s potential for recovery and long-term gains.
Furthermore, the number of addresses holding SHIB has also reached an unprecedented level of 1.11 million, as recorded by IntoTheBlock data. This influx in new addresses may suggest a rise in confidence among investors, who are now looking to purchase the memecoin at its discounted price.
It is essential to note that short-term holders, on the other hand, have been selling their SHIB holdings amidst the recent losses. However, LTHs’ unwavering faith in the memecoin’s potential has led them to ignore the bearish market and hold onto their coins instead of panicking and dumping their investments.
This surge in LTH activity is particularly noteworthy as it demonstrates that even amid a downturn, these investors remain steadfastly committed to holding SHIB. Moreover, such resilience may be indicative of their confidence in the memecoin’s potential for recovery.
As the market trend continues to unfold, this unwavering dedication from LTHs could serve as a crucial driving force behind any future price recovery.
Source: https://ambcrypto.com/shiba-inu-787t-shib-held-by-lths-despite-recent-losses-why/
