Shiba Inu Holders Show Long-Term Conviction With Average Hold Time Near 3 Years, Potential Price Resistance Ahead
Main Idea
Shiba Inu (SHIB) holders demonstrate long-term conviction with an average hold time of 2.8 years, contributing to price stability and reduced selling pressure, while recent price movements and trading volume surges indicate renewed market interest.
Key Points
1. Shiba Inu's average hold time is 2.8 years, reflecting strong long-term investor conviction and reducing short-term selling pressure.
2. Recent price uptick to $0.00001588 (4.75% increase in 24 hours) coincided with a 105% surge in trading volume, reaching $628 million.
3. SHIB breached the $0.0000145 resistance level, aligned with the 200-day SMA, and faces a key resistance zone between $0.000016 and $0.000019.
4. Approximately 474.9 trillion SHIB tokens were acquired within the $0.000016-$0.000019 range, with potential to reach $0.00002-$0.00003 if bullish momentum continues.
5. Strengthening market sentiment and growing community engagement suggest SHIB may evolve into a more mainstream crypto asset.
Description
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