Shiba Inu (SHIB) Long-Term Holders Ratio Surpasses Bitcoin (BTC) and Ethereum (ETH)

The ratio of Shiba Inu SHIB/USD supply held by long-term holders has reportedly surpassed that of Bitcoin BTC/USD and Ethereum ETH/USD.

The ratio of Shiba Inu SHIB/USD supply held by long-term holders has reportedly surpassed that of Bitcoin BTC/USD and Ethereum ETH/USD.

According to data from blockchain analytics firm IntoTheBlock, as of Thursday, 76% of Shiba Inu holders had held their tokens for over a year, while 22% had held on for more than a month but less than a year. Just about 2% of the investors had held Shiba Inu for less than a month.

In comparison, about 74% of Bitcoin and Ethereum investors had HODLed for over a year.

Notably, both BTC and ETH have significantly larger market capitalizations and have been around longer than SHIB, making it a significant milestone for the community.

An increase in supply held by long-term investors typically indicates less inclination to sell and confidence in the asset’s future value, according to Coinglass.

As more coins become illiquid and leave circulation, it can lead to scarcity, potentially driving up the price if accompanied by continued demand.

Another aspect to consider was the profitability of the network. At the prevailing price, about 40% of SHIB holders were in profit, compared to 88% for Bitcoin and nearly 50% for Ethereum.

The reduced unrealized profit may have pushed Shiba Inu holders to resist selling until prices became favorable to them.

It’s also worth pointing out that more than 74% of Shiba Inu’s supply was controlled by whales—addresses holding over 1% of the supply—compared to 55% for Ethereum and just 11% for Bitcoin.

A high whale concentration indicated lower decentralization and potential monopoly by a few powerful players.

SHIB was trading at $0.00001343 at the time of writing, down 7.29% over 24 hours.