As a seasoned crypto investor with experience in the volatile world of digital assets, I find the resilience of Shiba Inu (SHIB) among its holders truly impressive. The data uncovered by recent on-chain analyses underscores the confidence and steadfast belief of SHIB investors in the token’s long-term value.
Despite the recent market slumps, Shiba Inu (SHIB) has shown robustness. According to the data, approximately 700 trillion SHIB tokens, which are owned by over 650,000 wallets, continue to yield a profit. This underscores the strong conviction among SHIB holders regarding the token’s future worth.
Shiba Inu Market Resilience Amid Volatility
As a researcher studying on-chain data, I’ve discovered an intriguing pattern among Shiba Inu (SHIB) investors. Despite the token experiencing a decline in market price, a massive amount of SHIB tokens, totaling 733 trillion, remain in the hands of investors. This means that these investors have yet to realize their potential profits.
Approximately 653,530 separate wallets own these holdings, purchased at prices between $0.000002 and $0.000022, with an average purchase price of $0.000011.
This implies both a substantial gain in ownership and a diverse pool of investors who purchased the coin at relatively low prices. As a result, they can still make a profit even with the coin’s price volatility.
The “Break Even Price” metric, extracted from on-chain information, implies that numerous SHIB investors are currently making a profit. This might signify a coordinated approach among holders to ride out brief market fluctuations, focusing on prospective benefits in the longer term.
The information supports the belief that Shib is not merely a investment speculation, indicating a stronger conviction within its followers about the token’s prospective growth.
Long-Term Outlook And Ecosystem Developments
Despite a decline of 5.2% over the past week and 11.9% over the past month, Shiba Inu has seen a recent uptick of 3.3% in its price in the last 24 hours, trading at $0.00002389. 
I’ve observed a significant increase in this asset’s value, which aligns with its trading volume experiencing a notable jump. Last week, the trading volume was hovering around $400 million. However, it has since escalated to surpass $600 million as of today.
As a crypto investor in Shiba Inu, I’m thrilled to see the current market recovery. This upturn aligns with notable advancements within our beloved ecosystem. Particularly, the successful completion of a hard fork in Shibarium, our Layer-2 blockchain solution, is an exciting development that adds significant value to the project.
At block height 4504576, the Shibarium network underwent a hard fork, incorporating advancements designed to boost user experience and streamline transactions. This development came in light of community suggestions calling for enhanced functionality and reduced fees.
The update is anticipated to enhance Shibarium’s transaction processing and bring more consistency to users’ fee payments.
As a analysist, I would express it this way: The latest hard fork of Shibarium has two primary objectives: enhancing the capabilities of Bor and Heimdall, which are integral components of its technical structure. This improvement aims to strengthen and optimize the platform’s underlying technology.
1/ #Shibarium has successfully completed its hard fork at block height 4504576!
Get ready for:
•Blazing-fast transactions!
•Predictable gas fees!— Shibarium Network (@ShibariumNet) May 2, 2024
The Shiba Inu team is focusing on enhancing the accuracy of state synchronization confirmations and promoting deterministic finality to boost the network’s dependability and capability to handle higher transaction volumes.
Read More
Sorry. No data so far.
2024-05-04 05:10