The post Shiba Inu (SHIB) Breaks New Record, Here’s Why It Matters appeared on BitcoinEthereumNews.com.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Dog-themed cryptocurrency Shiba Inu (SHIB) has set a completely brand new record, this time in its total number of addresses, which now stands at 3.67 million, per IntoTheBlock data. Total addresses refer to those that were ever created and, at one point, held a particular crypto asset, including those that still do. This is significant in the long term since it may indicate an increasing holding base. The number of total addresses with a balance has also maintained steady growth, reaching 1.26 million. While the total number of addresses with a balance does not exactly correspond to the number of holders, it provides a useful approximation of the number of people who have a crypto asset. Similarly, in the long term, the total number of addresses with a balance indicates interest in holding and investing in a specific crypto asset. According to IntoTheBlock data, Shiba Inu has reached new highs in its hodlers’, or long-term holders’, count. The proportion of this category of Shiba Inu holders is now 74%, the highest since its inception. The percentages of midterm and short-term holders are 24% and 2%, respectively. SHIB and market price action At the time of writing, SHIB was marginally up 0.11% in the last 24 hours to $0.000008349. This remains significant as major cryptocurrencies, especially those in…

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Filed under: News - @ November 27, 2023 12:18 pm