SHIB Holders Increases 1,900% Amid Positive Market Sentiment

Positive Market Sentiment

Shiba Inu holding accounts have increased by 1,900% to 3,750 since January, with the long-term investments rising 127% to 27.93 trillion tokens.

The account balances for addresses with a holding period of less than a year have declined by 2% from January, with the number of tokens held by traders rising 40% to 32 trillion.

The number of traders holding the asset for less than a month has reduced by 38% to 49,790, reportedly underscoring a potential bullish momentum.

The surge in the number of holding addresses is considered a shift in the perspective of the meme token, which was a digital gambling asset.

Financial services company Robinhood markets added Shiba Inu tokens to its platform on Tuesday, causing it to jump 22%, the biggest daily surge since February 6.

The balance held by the holding addresses of Shiba Inu makes up 5% of the cumulative circulating supply of 549 trillion, while the short-term traders have over 93% of the supply.

Source: Coindesk

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