Long-Term Shiba Inu Holders Increase Their Balance to a New Peak of 786T+ SHIB

The cumulative balance of Shiba Inu addresses that have held their bag for at least a year has risen to a new peak.

This is according to on-chain data provided by blockchain resource IntoTheBlock. Notably, this bullish development comes when Shiba Inu witnesses bearish pressure due to the broader market’s turbulence. 

For context, the meme coin is down 62% from its latest peak of $0.00003343, attained during the Donald Trump-led rally in late 2024. SHIB has witnessed three consecutive monthly declines, having collapsed by more than 57%. Shiba Inu is also down 9.04% this month alone.

Long-Term Shiba Inu Holders Continue to Accumulate 

Despite the downturn, most long-term investors display impressive resilience, as evidenced in the recent IntoTheBlock data. Particularly, Shiba Inu Hodlers (those holding for over a year) have increased their cumulative balance to 786.24 trillion SHIB, a new all-time high. Note that this class also includes the burn address.

Notably, this is the only tier of holders that have continued to increase their balance amid the downturn. Further data indicates that Cruisers (those holding between 1 and 12 months) and Traders (those holding for less than a month) have seen their balances decline by 14.91% and 42.73% respectively in the past week.

In contrast, Hodlers have observed a 5.73% increase in their holdings within the same period. This indicates that while short-term traders are panic-selling, long-term holders are continuously accumulating in preparation of a potential rebound.

Interestingly, this trend occurred just before the latest Shiba Inu upsurge that pushed the asset to $0.000033 late 2024. For context, Hodlers increased their holdings from 747.06 trillion to 784.64 trillion SHIB between Oct. 30 and Nov. 4, 2024, right before the U.S. elections. Within this period, Cruisers reduced their balance from 220 trillion to 182 trillion tokens.

Meanwhile, following the market-wide upsurge, Hodlers started reducing their balance gradually, translating to profit-taking trades, while Cruisers saw a rise in balance possibly due to FOMO entry. 

Another Uptrend on the Horizon?

Notably, the recent rise in Hodlers’ holdings and concurrent drop in the balance held by Cruisers could indicate that another rally might be on the horizon. These long-term holders typically increase their bag during poor market sentiments, especially when they expect a potential uptrend.

In addition to long-term holders, large whales have also increasingly accumulated more tokens. According to IntoTheBlock data, whales holding between 10 trillion and 100 trillion SHIB have procured 3.75 trillion SHIB since Jan. 31, when the ongoing downtrend began, bringing their balance to 164.4 trillion.

Meanwhile, Shiba Inu has recently faced a hurdle in its recovery campaign after soaring to $0.00001383 two days back. The meme coin is on track to witness a second consecutive intraday loss except it pushes back above $0.000013. SHIB currently changes hands at $0.00001268.