Will Shiba Inu rise? SHIB kept longer on wallets than Bitcoin and Ethereum
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- Data from Coinbase’s price page shows that the average holding period for Shiba Inu investors on its platform is now 183 days.
- Despite the departure of the founder of the project, SHIB holders keep their assets.
The average time that Coinbase users held the meme-inspired crypto asset Shiba Inu before selling it or moving it to another wallet has now exceeded six months. Data from Coinbase’s price page showed that Shiba Inu investors on the NASDAQ-listed crypto exchange have held their SHIB tokens for 183 days.
This period exceeded the average holding period of other top digital assets such as Solana (SOL), Bitcoin (BTC), Cardano (ADA) and Ethereum (ETH). According to the cryptocurrency exchange’s notes, a long holding period indicates an accumulation trend. Conversely, a short holding period means an increased sale or transfer of tokens. Since Coinbase introduced the hold time feature on its platform, SHIB’s average hold time has increased, according to data from Gfinity eSports.
Coinbase price data also revealed that Shiba Inu is among the 12 most popular digital currencies on the platform. The exchange also reported that 94 percent of its users who trade meme-inspired coins keep acquiring more, while the rest move their tokens. It is important to note that Shiba Inu’s trading activity on Coinbase is only a small part of its overall trading activity. The meme-inspired token is listed on other top crypto trading platforms, especially Binance.
Strengthens despite the departure of the founder
Four months ago, the anonymous Shiba Inu creator deleted all his social media profiles and left the Shiba Inu community. His departure was similar to how Bitcoin founder Satoshi Nakamoto left the Bitcoin community in December 2010. However, his departure has not stopped or prevented SHIB holders from holding on to their tokens.
After the departure of the founder, the SHIB community and developers have been responsible for managing the platform. They are developing new solutions that they plan to release soon. SHIB: Among others, Metaverse and Shibarium are two popular solutions that they plan to release soon.
Read more: Shiba Inu reveals the first concept of his metaverse project
Shibarium is a layer 2 blockchain where SHIB token holders can transfer their tokens to enjoy lower transaction fees. Like other metaverses, the SHIB: metaverse is exclusively the metaverse of the SHIB community. Members have started buying lots in this metaverse.
In addition, SHIB developers recently released a preview of Shiba Eternity, a trading card game. This game is one of the projects that the SHIB community is eagerly awaiting its release. SHIB developers released an in-game preview of Shiba Eternity following an announcement by Shiba Inu Project Director Shytoshi Kusama.
Kusama previously announced that Vietnamese players on iOS devices had access to the test version of the game and the test was successful. Kusama also proposed various ideas to the SHIB community regarding Shiba Eternity. One of his proposals was the Shiba Eternity tournaments, where the tournament winners were rewarded with anything related to the SHIB ecosystem, such as SHIB tokens, bone, or NFTs. Many SHIB holders agreed that Kusama’s tournament idea was brilliant and supported it.