In February of 2022, Shiba Inu had its greatest monthly growth yet, gaining 20.33 percent. In July, Shiba Inu tried a replication of the move and ended the month 13% higher. Given its recent price increase, Shiba Inu might be poised for a similar occurrence.
On October 29, the price of SHIB surged by nearly 30% to $0.00001519, the highest price since August 2022. Shiba Inu’s price rose by more than 54 percent between Oct. 25 and Dec. 31 as a result of a larger rise that started on Oct. 25.
According to on-chain analytics firm Santiment, self-proclaimed “Dogecoin Killer” SHIB has traditionally appreciated Dogecoin. Following Elon Musk’s acquisition of Twitter, the latter realized enormous benefits. Significant volumes were attracted by the SHIB’s pricing increase.
Closing over $0.000013 and even $0.000015 is required for SHIB to record its next-largest monthly increase since February. At the time of publishing, SHIB was trading at $0.0000124, up 1.12% over the previous twenty-four hours.
SHIB was in the top 10 assets in terms of trading volume among the 100 largest ETH whales, according to WhaleStats statistics. A crypto data tracker’s examination of the top 100 Shiba Inu holders reveals that the 24-hour trade volume for these addresses has increased by 266%.
According to statistics from IntoTheBlock, SHIB currently has the greatest proportion of long-term investors, establishing a new benchmark for the measure. The proportion of long-term holders, or “hodlers,” has increased to 44%, the highest level ever recorded, while the proportion of short-term speculators continues to fall. In the meanwhile, the proportion of short-term investors has remained pretty stable.
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