Shiba Inu Holders Break Records: Number of Long-Term SHIB Investors Becomes Unprecedented

In the crypto space, it is not uncommon for investors to be in it for the long haul. But with the Shiba Inu token (SHIB), the number of long-term holders has reached an unprecedented level.

Timeline of Shiba-inu

Shibarium, the layer 2 blockchain meant to solve the SHIB token's host chain Ethereum's problems, particularly low speed and high transaction cost, is seeing an early rise in acceptance as users investigate and test its features on testnet “puppynet.

Shiba Inu lead games consultant William Volk on Twitter shared an image of Shiba Inu dogs on LEASH. He wrote alongside the tweet, "It must be a sign" while tagging SHIB and Shiba Eternity.

The Shiba Inu (SHIB) network has witnessed a significant decrease in circulating supply, with almost 250 million tokens recently removed from circulation. This comes after a recent report from U.Today revealing that over 1.1 billion tokens have been destroyed on the network, marking one of the largest burn events in the past few months.

Despite the broader crypto market occasionally registering gains, Shiba Inu has been in a consolidation phase over the past month. However, some analysts believe this period could be coming to an end, with a breakout on the horizon for the asset.

Shiba Inu, the popular meme-inspired token, continues to trade at a steady range, despite major activity in the market over the past two weeks. As of this writing, Shiba Inu (SHIB) is valued at a price of $0.00001123, tallying a 3.4% increase in the past two weeks, according to data from CoinGecko.

Shibarium, the layer 2 blockchain designed to address the shortcomings of the SHIB token's host chain Ethereum, namely low speed and high transaction cost, is witnessing an initial surge in adoption as users explore and test its capabilities on testnet “puppynet”.

The price of the meme-inspired cryptocurrency Shiba Inu ($SHIB) has been underperforming other blue-chip digital assets, even at a time in which token burns for it have kept on growing dramatically, leaving some in its community disappointed.

Data from the Ethereum blockchain has revealed that the recently launched Koyo token project has moved forward with a major burn of the meme-inspired cryptocurrency Shiba Inu ($SHIB), helping its burn rate skyrocket. According to the data, first spotted by users on the microblogging platform Twitter, Koyo burned an astounding 1.

SHIB Price Prediction: The ongoing consolidation in Shiba Inu price revealed the formation of an ascending triangle pattern in the daily time frame chart. This pattern is one of the famous bullish continuation patterns that offer a significant upswing upon the breakout of its neckline resistance.

Despite the strong increase in SHIB burn numbers in recent weeks, the Shiba Inu price is currently lagging behind the expectations of the community. While SHIB burn numbers are already very high in the first half of April, March 2023 was the strongest month since October 2022.