Shiba Inu (SHIB) Surpasses Bitcoin and Ethereum in Long-Term Holder Retention
Shiba Inu (SHIB), the second largest meme coin by market cap, has surpassed dominant cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) in one of the most important market statistics: long-term holder retention. New statistics released by IntoTheBlock show that a higher percentage of SHIB investors have maintained their holdings for more than one year than in the case of BTC and ETH. This further endorses the meme coin’s unexpected resilience amid times of volatility.
Shiba Inu Earns Third Spot in Long-Term Holding
Based on IntoTheBlock’s most recent statistics, Shiba Inu is third among supported assets in long-term holders. It only follows Litecoin (LTC) and Chainlink (LINK) in this category, showing a strong investor base despite its meme coin branding. At the most recent update, 76% of SHIB holders have retained their tokens for over a year. This is up from 75.8% last seen on March 21. In contrast, Ethereum long-term holders have dipped slightly to 74% from 74.2%, while Bitcoin’s long-term holders’ percentage has increased to 74% but is still lower than SHIB’s.
Source: IntoTheBlock An in-depth examination of the holding distribution indicates that 22% of SHIB investors have held their holdings for one to twelve months. In contrast, just 2% of investors have kept their tokens for fewer than thirty days, suggesting negligible short-term speculation in the SHIB market. Furthermore, recent DeFi developments on the platform have also fueled investors’ confidence, as reported earlier. Conversely, Bitcoin owners who have held their assets for less than a month account for 5%, a much larger percentage than SHIB’s 2%. The percentage of BTC owners who have held their tokens for one to twelve months is the same as SHIB’s at 22%. Ethereum has, however, experienced a minimal decline in its long-term holders since March 21. While 74% of ETH holders have been holding their tokens for more than one year, 23% have been holding them for one to twelve months. The other 3% have had their assets for less than a month.
Average Holding Time: SHIB Overtakes Ethereum
Even though SHIB launched five years after Ethereum, it has outdone ETH in the average duration that investors hold onto their tokens. On average, SHIB tokens last in a wallet for 2.6 years, while Ethereum’s holding period is, on average, 2.4 years. No surprises, Bitcoin, dominating the crypto space for over a decade, tops this list with an average holding time of 4.4 years. SHIB’s sudden surge in retention rate, though, indicates its increasing popularity among loyal investors.
Shiba Inu Community’s Burn Saga
Amid these achievements, the SHIB burn rate skyrocketed by a whopping 57069.02%, with over 1 billion tokens burned, according to Shibburndata. The largest burn was made by the wallet address 0x55b…, who transferred 1 billion SHIB to a dead wallet. The decrease in circulating supply could aid Shiba Inu’s upcoming price trajectory as it struggles with a 7% intraday loss on Thursday, as highlighted in our previous article. Whilst, analysts expect a major rebound if SHIB price successfully breaches through the $0.000015 level. Here, long-term holder retention and surging burn rate could play a significant role.