Large SHIB holders and seasoned investors are displaying resilience in the face of a price drop to $0.000017, as indicated by two Shiba Inu metrics – the “large holders inflow” and “addresses by time held.”
The market turbulence has hit Shiba Inu hard, causing a 32.15% price collapse in June, bringing it down to the $0.000017 territory. Despite this, some market participants, particularly whales and seasoned investors, remain unfazed. This is in contrast to sustained selloffs from other tiers of holders.
According to market data from analytical resource CryptoQuant, market participants deposited a massive 2.3 trillion Shiba Inu tokens to exchanges recently, marking the largest daily Shiba Inu exchange inflow since June 12, just before SHIB lost the $0.00002 price territory.
However, two metrics from IntoTheBlock confirm that large and old investors have not participated in the selloff spree. The Large Holders Inflow metric indicates that whale investors holding at least 0.1% of Shiba Inu’s circulating supply, worth about $10 million, have continued to increase their balances despite the selloffs. These investors accumulated a significant 1.86 trillion Shiba Inu tokens worth $31.62 million recently, even as SHIB dropped dramatically to a 4-month low of $0.00001632.
Although these large investors also pulled out assets recently, their outflows were significantly lower, amounting to 448.6 billion SHIB. Consequently, Large Holders Netflows hit a positive flow of 1.42 trillion Shiba Inu tokens on June 24, marking the highest positive netflows over the last three months.
Remarkably, this metric has seen a positive surge of 7,273% over the last 30 days, demonstrating sustained inflows. Moreover, data from Santiment shows that addresses holding at least 1 trillion Shiba Inu have amassed 280 billion tokens since May 1 despite the ongoing market correction.
Furthermore, the Addresses by Time Held metric confirms that Hodlers (those holding for at least a year) have increased to 1.03 million addresses, while Cruisers (holding for 1 to 12 months) have reduced to 284,410 wallets. In addition, Traders (those holding their tokens for less than 1 month) have dropped to 32,190 addresses. This behavior is typical in bearish market conditions, with experienced investors demonstrating resilience in anticipation of a recovery push.
Shiba Inu is currently leveraging the mild market recovery to solidify support at $0.000017, currently trading for $0.00001713. SHIB has increased by a meager 0.53% today, with plans to push above the $0.00001794 resistance, a move that could allow it to reclaim $0.000018. It’s important to note that this content is informational and should not be considered financial advice. Readers are encouraged to conduct thorough research before making any investment decisions.