Home Blog Page 984

CoinShares Joins XRP ETF Race, Submits Filing With SEC

Lele Jima
-
0
CoinShares Joins XRP ETF Race, Submits Filing With SEC

Leading digital asset manager CoinShares applies with the United States Securities and Exchange Commission (SEC) to launch XRP exchange-traded fund (ETF).  

CoinShares submitted the application yesterday in a bid to provide investors with a cost-effective way to invest in XRP. 

Details of the Filing 

Dubbed the CoinShares XRP ETF, the fund aims to track XRP’s performance, as reflected by the Compass Crypto Reference Index XRP. This index represents the value of XRP at 4 PM (NY Time). 

Per the filing, CoinShares serves as the official sponsor of the XRP ETF, while CSC Delaware Trust Company is assigned as the fund’s trustee. Currently, CoinShares has not disclosed the administrator, transfer and marketing agents, and custodian of the ETF.

If the SEC approves CoinShares’ application, shares of the XRP ETF will trade on Nasdaq under an undisclosed ticker. The filing indicates that CoinShares’ XRP ETF shares will be issued in blocks of 5,000 and can be purchased by only authorized participants. 

According to the filing, an unnamed seed capital investor, an affiliate of CoinShares, initiated the fund following its initial purchase of an undisclosed amount of shares. 

Notably, CoinShares redeemed the seed shares for cash. The filing also highlighted the risk of investing in the upcoming XRP ETF, noting that investors could lose all their money. 

Multiple XRP ETF Applications 

It bears mentioning that several asset managers are seeking to launch spot-based ETFs linked to XRP. 

Seven applications have been submitted to the SEC for ETFs exclusively tied to XRP. The prospective issuers include Bitwise, Canary Capital, WisdomTree, 21Shares, Rex Osprey, ProShares, and CoinShares. 

Besides these single-asset proposals, Bitwise and Grayscale are also seeking to launch basket ETFs featuring multiple crypto assets, including XRP. So far, the SEC has not acknowledged any of the XRP-specific ETF applications. However, the commission has acknowledged the two basket ETFs that include XRP and other crypto assets. 

XRP Holders Optimistic About SEC Approval 

Despite this, XRP proponents have remained optimistic that the SEC will approve at least one XRP-specific ETF before the end of 2025. This speculation gained momentum following Donald Trump’s inauguration as president of a pro-crypto administration. 

Notably, the 47th U.S. President has also nominated other pro-crypto advocates into top positions, including Paul Atkins as the next chairman of the SEC. 

Atkins is expected to contribute significantly to providing clear and fair regulation for the crypto industry. Some investors also speculate that his leadership could resolve most of the enforcement actions against crypto businesses, including the Ripple lawsuit. 

This case is currently under appeal in the Second Circuit. While the SEC filed its opening appeal brief on January 15, Ripple requested a deadline of April 16, 2025, for the filing of its cross-appeal brief. 

A potential resolution of the lawsuit through a settlement or favorable court ruling could pave the way for the launch of XRP ETFs. 

Analyst Expects Dogecoin Correction to New Lows Before Ultimate Rally: Here are Targets to Watch

Sam Wisdom Raphael
-
0
Analyst Expects Dogecoin Correction to New Lows Before Ultimate Rally: Here are Targets to Watch

Dogecoin, the leading meme coin, could face further corrections before reaching new heights, according to market analyst Behdark. 

In a recent post on TradingView, Behdark discussed Dogecoin’s latest price movements amid the ongoing market correction. For context, despite the recent crypto executive order from President Donald Trump, the broader crypto market continues to consolidate, and DOGE has been a victim of this trend.

Dogecoin Faces ABC Correction 

Behdark explained that Dogecoin has entered an ABC correction phase following its $0.41 top price on Dec. 11, 2024. He identified this point with a red marker on the 8-hour chart. Currently, DOGE is in wave B of the correction, which is forming as a diametric pattern.  

However, he expects this Wave B to be a bullish push, suggesting that in the short term, DOGE could witness a brief rebound rally during this wave. Data from the chart shows that Wave B could reach its final stage by the end of January, once it reaches the $0.40 resistance mark.

Dogecoin 8h Chart Behdark
Dogecoin 8h Chart | Behdark

According to him, this Wave B resistance of the ABC correction would coincide with the wave g of a broader Wave count that began on Dec. 20, 2024. Nonetheless, after reaching the $0.40 resistance mark, Behdark believes Dogecoin will witness a massive pullback.

The market analyst warns that a bearish wave C is likely to follow, driving prices down to a “yellow zone.” The chart confirms that this wave C lies between $0.24 and $0.27, with the possibility of DOGE entering this region next month.  

Interestingly, this yellow zone is important. Behdark believes significant liquidity is concentrated here. He also suggested that Dogecoin could form a higher high from this level, indicating potential recovery after the correction.  

Behdark promised to update his analysis as prices approach the yellow zone. However, his outlook suggests this correction is necessary before Dogecoin experiences a more significant rally.  

Broader Outlook 

Notably, the latest analysis was an update to a previous report from Dec. 22, 2024. During this period, the analyst highlighted that Dogecoin is in the midst of a large, multi-year bullish phase, marked by a diametric or symmetrical pattern.  

The analyst noted that wave E of this pattern is complete, signaling the start of wave F, a bearish phase. Based on past corrective waves (B and D), Behdark expects wave F to be volatile and last between 196 and 347 days. 

Dogecoin 3D Chart Behdark
Dogecoin 3D Chart | Behdark

According to Behdark, wave F should conclude within a horizontal green zone, which lies within the $0.15 and $0.20 price range. If Dogecoin’s price closes below the invalidation level on a weekly candle, the bullish outlook for the green zone will no longer hold.    

Meanwhile, in a separate analysis, market watcher Moein Haddadian pointed out that Dogecoin is currently forming an ascending triangle as it looks to recover from a 45% price correction. He expects DOGE to push toward the upper boundary of the triangle if the $0.2393 support holds.

Dogecoin 1D Chart Moein
Dogecoin 1D Chart | Moein Haddadian

Currently, Dogecoin trades for $0.3491, down 0.49% this morning and changing hands within the Wave B from Behdark’s updated analysis. The bulls must ensure they defend against any steeper drop below $0.24.

Astra Nova to Launch Groundbreaking Features on Shiba Inu: Here Are What They Are

Lele Jima
-
0
Astra Nova to Launch Groundbreaking Features on Shiba Inu: Here Are What They Are

Astra Nova shares fresh details regarding its partnership with Shiba Inu, highlighting key features and launches users should expect. 

The team behind Astra Nova reiterated its groundbreaking partnership with Shiba Inu, which focuses on redefining the gaming experience using Artificial General Intelligence (AGI) and other cutting-edge technologies.  

In an X post yesterday, Astra Nova characterized the partnership as a major turning point, emphasizing its potential impact on its ecosystem and that of Shiba Inu. The partnership was first unveiled earlier this month. However, the teams did not reveal specific details of the partnership at the time. 

Key Features of the Partnership 

According to the X post, Astra Nova highlighted key features set to be unveiled through the partnership. 

Astra Nova Survival Mode and Webcomic dApp 

Astra Nova will debut its Action RPG survival mode on Shiba Inu’s Layer-2 blockchain solution, Shibarium. This survival mode, set to launch in February 2025, will feature AI-controlled non-player characters (NPCs). 

Another interesting feature scheduled for release under the partnership is the Nova Toon webcomic decentralized application (dApp). Launching in February 2025, the Nova Toon webcomic dApp will introduce comics themed around Shiba Inu and Astra Nova communities. Users can mint these comics as non-fungible tokens (NFTs) on Shibarium, blending decentralized ownership and centralized creativity. 

SHIB Burn Mechanism and RVV Liquidity Allocation to Shibarium  

Additionally, the partnership will help reduce SHIB’s circulating supply by introducing a burn mechanism. Per the announcement, the partners will use a portion of the revenue generated from survival modes’ battle passes to burn SHIB. This incineration will occur semi-annually immediately after the RVV token generation event (TGE). 

The move will contribute to the ongoing Shiba Inu burn campaign, which aims to reduce SHIB’s circulating supply and boost its market value. 

Under the partnership, Astra Nova will allocate a substantial amount of its RVV token liquidity on Shibarium, signaling its long-term belief in the Shiba Inu blockchain. 

RVV Presale and Staking Opportunities for SHIB Holders 

Furthermore, Shiba Inu community members will benefit from the upcoming presale of Astra Nova’s native token, RVV. The TGE, set to commence at 3 PM (UTC) on January 27, 2025, will include a 10-20% bonus for existing holders of Shiba Inu ecosystem tokens. 

The partnership also offers new staking opportunities for SHIB and RVV holders. According to the announcement, users who stake SHIB and RVV will receive additional incentives, such as in-game rewards and RVV tokens. 

Shiba Inu Lead Reacts 

Reacting, Shiba Inu’s enigmatic leader, Shytoshi Kusama, expressed enthusiasm about the progress happening within the cryptocurrency ecosystem, particularly Shiabrium. 

“Boom! More for Shibarium and the Army,” Kusama remarked. 

He expressed satisfaction with the ongoing progress of the Shiba Inu ecosystem as he shades critics for constantly criticizing SHIB without taking meaningful action. 

Analyst Says a $3 XRP Will be History Forever, Predicts Imminent Run to $5.8

Sam Wisdom Raphael
-
0
Analyst Says a $3 XRP Will be History Forever, Predicts Imminent Run to $5.8

Dark Defender, a notable market analyst, insists that XRP is likely to transcend the $3 psychological mark, suggesting run to greater heights.

The commentary comes as XRP struggles to fight off the bears at the $3 price mark amid the persistent uncertainty in the broader market. For context, XRP eventually reclaimed $3 on Jan. 15 for the first time since January 2018, soaring to a peak of $3.4 the next day before facing resistance.

This bullish development occurred on the back of an extensive run from XRP, which saw it rally from the $0.5 price level last November. During this bull phase, XRP successfully conquered the two psychological resistance levels of $1 and $2 within two weeks. 

“$3 Will be History Forever”

Now that it has broken above $3, analysts like Dark Defender believe this level would also become history once the momentum resumes. In his latest commentary, Dark Defender shared a 4-hour chart showcasing XRP’s price movements since it claimed $3.4 and pulled back.

Notably, upon this pullback, the asset has continued to record lower highs, leading to the formation of a top descending trendline. XRP had persistently faced a roadblock around the resistance at this trendline, capping its bullish momentum, as the broader market navigates investor uncertainty.

XRP 4h Chart Dark Defender
XRP 4h Chart | Dark Defender

With the resistance recently stationed at the $3.24 mark, XRP broke above it on Jan. 20, when it soared to a top price of $3.36. Dark Defender pointed out at the time that XRP had broken past this roadblock and retested it, suggesting that a bullish run could be on the horizon.

Should this run ensue, the analyst expects XRP to finally transcend the $3 psychological level. According to him, “$3 will be history forever.” The market commentator then presented a projection for XRP price if the bulls maintain the momentum.

XRP Targets $5.8

Data from his chart shows he sees XRP hitting a $5.8 price level, aligning with the Fibonacci extension level at 261.8%. Hitting this price region would see XRP breach the $4 psychological mark and bring XRP close to double its 2018 all-time high. 

However, XRP has since invalidated the breakout above Dark Defender’s trendline, having recently dropped slightly to the $3.11 price amid broader market challenges. Nonetheless, a rebound could see it breach the trendline again.

At press time, XRP currently trades for $3.1198, down 0.85% over the past 24 hours and 5.49% in the last seven days. Notably, from the current level, the $5.8 target would only require an 86% increase. Last October, analyst EGRAG contented that XRP’s worst case scenario could see it hit $6 this bull run. 

Cardano Whales Offload 180M ADA This Week As Price Dips

Albert Brown
-
0
Cardano Whales Offload 180M ADA This Week As Price Dips

Cardano whales have offloaded 180 million ADA, contributing to the token’s 9.62% drop over the past week.

Currently trading at $1, Cardano remains distant from reclaiming its all-time high of $3.09. Recent price action suggests a dip in user engagement, with the token remaining within a narrow trading range.

While ADA recorded a 3.38% gain in the last 24 hours, it remains down 9.62% over the past week.

Amid this short-term uptick, market data indicates that whale investors have offloaded over 180 million ADA within the week, contributing to downward pressure.

Cardano Whale Activity

Data from Santiment shared by analyst Ali Martinez highlights the correlation between ADA price action and whale holdings.

Between early December and mid-December 2024, ADA fell from $1.12 to below $0.90. Interestingly, large holders with wallets containing 100 million to 1 billion ADA mostly maintained stable balances.

From late December 2024 to early January 2025, ADA traded erratically below $1.00, with whale holdings under 3.34 billion ADA.

A shift occurred between January 3 and January 14, when ADA surged from $0.85 to over $1.10. During this phase, whale holdings increased from 3.2 billion to more than 3.5 billion ADA.

However, whale behavior reversed course this week. After ADA price reached $1.16, it retreated to $0.99, and ADA balances of whales fell sharply from 3.5 billion ADA to 3.32 billion ADA. In particular, Cardano whales have dumped over 180 million ADA tokens this week.

Image
Cardano chart showing whale activity

Negative Ownership Trends by Whales

Supporting these observations, IntoTheBlock’s ownership & historical concentration chart illustrate the changing distribution of ADA among whales, investors, and retail traders.

Whale holdings dropped by 1.68%, while mid-sized investors increased their stake by 1.60%. Retail traders also expanded their holdings by 0.72%, suggesting broader market participation.

Cardano Historical Concentration
Cardano Historical Concentration

Although the increase in investor and retail holdings may signal confidence, it could also introduce volatility if these groups decide to exit positions amid price fluctuations.

Large Holders See Persistent Outflows

Meanwhile, Cardano’s large holder’s netflow data reveals substantial outflows from major investors. Over the past seven days, netflow declined by 90.29%, while the 30-day figure recorded a sharper drop of 94.46%. 

Cardano Large Holders Netflow
Cardano Large Holders Netflow

These figures indicate sustained bearish pressure from large investors offloading ADA. Over 90 days, the shift in ownership was even more pronounced, with a netflow change of -7,284.93%.

On-Chain Data Shows Bitcoin Has 74% Room to Grow Before Entering Overbought Territory

Mark Brennan
-
0
On-Chain Data Shows Bitcoin Has 74% Room to Grow Before Entering Overbought Territory

The recent Bitcoin price action has sparked mixed reactions among investors, but on-chain metrics suggest the market still has room to grow.

Bitcoin hit an all-time high of $109,110 this week but has since dropped to $101,257. While it has rebounded, the repeated cycle of fluctuations and recoveries continues to create uncertainty among market participants about the current bull season. Some have even suggested that the market top may be in.

However, Bitcoin’s on-chain data indicates that there’s still potential for growth before it enters overbought territory.

Specifically, the Mayer Multiple (MM), a key indicator for assessing Bitcoin’s price relative to its 200-day moving average (200DMA), presents important insights into the current bull market trajectory.

Understanding the Bitcoin Mayer Multiple

The Mayer Multiple is calculated by dividing Bitcoin’s price by its 200DMA and has historically been used to identify key moments in Bitcoin’s market cycles. MM values above 2.4 signal overbought conditions, while values below 0.8 indicate oversold levels.

According to the analytics platform Glassnode, these metrics have proven reliable indicators of price extremes, helping investors navigate macro trends.

Currently, Glassnode’s data shows Bitcoin’s Mayer Multiple at 1.37. This means that while its price is 37% above its 200DMA, it is still well below the overbought threshold.

Notably, Bitcoin will enter the overbought zone when its price exceeds $181K—nearly 74% higher than its current price of $104K.

Image
Bitcoin Mayer Multiple chart by Glassnode

Room for Bitcoin to Rally to $181K

Essentially, despite Bitcoin trading above $100K, its uptrend remains far from overheating.

Notably, Bitcoin’s oversold threshold is at $60K, providing a safety margin in the event of a market correction. For context, reaching this level would require Bitcoin’s value to drop by 42% from its current price.

Additionally, the MM’s neutrality at 1.0 aligns with a $75K price, indicating a strong support level for the ongoing rally.

With the overbought threshold still distant, investors remain optimistic about Bitcoin’s ability to scale new heights in the months ahead. An earlier analysis by The Crypto Basic suggests the market still has a window of up to 250 days before the bull market may officially come to an end.

Ultimately, technical data points to the Bitcoin bull market remaining intact, with $181K serving as the next key milestone for investors to watch.

CryptoQuant Analyst, Coinbase CEO Advocate for Countries to Prioritize Bitcoin Over Gold: Here’s Why

Mark Brennan
-
0
CryptoQuant Analyst, Coinbase CEO Advocate for Countries to Prioritize Bitcoin Over Gold: Here’s Why

The Coinbase CEO Brian and a CryptoQuant analyst have explained why it would be more beneficial for countries to prioritize Bitcoin over gold.

Discussions surrounding Bitcoin’s potential as a reserve asset have gained momentum, particularly after President Donald Trump signed an executive order exploring a digital asset reserve. As a result, industry leaders are now advocating for Bitcoin to replace traditional reserve assets like gold and oil.  

Analyst Insists Investors Should Prioritize Bitcoin over Gold

As these discussions gain steam, Axel Adler Jr., a CryptoQuant analyst, recently pointed to Bitcoin’s impressive performance against traditional assets as an important factor, contending that it is more economically wise to prioritize Bitcoin over gold.

“I see no economic efficiency for investors in putting money into gold,” Adler boldly stated. He highlighted that gold has seen a massive decline against Bitcoin in the past years.

For context, over the last twelve years, the value of one ounce of gold fell from 732 BTC to 0.02 BTC. According to Adler, if Bitcoin continues to outperform gold at the current rate, the value of gold in Bitcoin terms could become negligible within a decade.  

He pointed out that Bitcoin has outpaced gold by an average of 37 times annually. The market analyst believes this trend will inevitably prompt major investors, including bankers and fund managers, to shift their allocations from gold to Bitcoin. 

BTC Continues to Outpace Gold

In a separate disclosure, Adler also noted that Bitcoin has outshined oil in addition to gold. An accompanying chart shows that in the last six years, gold dropped 91% against Bitcoin, moving from 0.294 BTC per ounce to 0.026 BTC. Oil has faced a similar fate, declining from 0.008 BTC per barrel to 0.0007 BTC per barrel in the same period. 

Bitcoin Against Gold and Oil CryptoQuant
Bitcoin Against Gold and Oil | CryptoQuant

The analyst further suggested that Bitcoin’s scarcity and ease of purchase in varying amounts contribute to its appeal. According to Adler, these qualities make it particularly attractive to younger investors who are shifting away from conventional assets like gold and oil.  

Coinbase CEO Agrees

Meanwhile, Brian Armstrong, CEO of Coinbase, noted in a previous commentary that Bitcoin’s current market capitalization of around $2 trillion represents roughly 11% of gold’s estimated $18 trillion market cap. 

Armstrong asserted that Bitcoin holds massive advantages over gold, such as improved security, portability, and divisibility. Notably, unlike gold, which can be difficult to verify for purity, Bitcoin’s digital nature ensures transparency and authenticity.  

The Coinbase CEO further argued that countries with gold reserves should allocate at least 11% of their holdings to Bitcoin. He believes Bitcoin’s market cap will surpass gold within the next decade, making it prudent for nations to establish strategic Bitcoin reserves now. 

Furthermore, Armstrong added that countries leading in Bitcoin adoption could set a precedent for others, potentially inspiring G20 nations to follow suit. Also, to Adler, the Trump administration’s focus on supporting crypto through the “Crypto Capital” agenda could accelerate Bitcoin’s adoption.

Why MicroStrategy Faces Billions in Taxes Over Unrealized Bitcoin Gains

Mark Brennan
-
0
Why MicroStrategy Faces Billions in Taxes Over Unrealized Bitcoin Gains

MicroStrategy looks set to pay billions in taxes on unrealized gains on its Bitcoin holdings.

The Michael Saylor-led business intelligence firm MicroStrategy has enjoyed significant success in the past year thanks to its bold Bitcoin treasury strategy, but its playbook could come at a hefty cost.

MicroStrategy Stares Down Huge Tax Bill

MicroStrategy may be set to pay billions in taxes on unrealized gains on its Bitcoin holdings.

On Friday, January 24, The Wall Street Journal reported that the business intelligence firm could be forced to pay billions in taxes on $19 billion in unrealized gains from its 461,000 Bitcoin holdings worth over $48 billion starting next year despite having not sold any coins.

The looming tax bill follows a “corporate alternative minimum tax” introduced with the Inflation Reduction Act of 2022 targeted at companies reporting high earnings with minimal taxable income. Under the rule, MicroStrategy faces a 15% minimum tax rate on adjusted earnings, a bill that could force it to liquidate some of its Bitcoin holdings for cash.

Still, MicroStrategy may be able to avoid this tax bill if it secures an exemption from the Internal Revenue Service.

Indeed, the IRS has already granted such an exemption to companies with unrealized gains from stock holdings, and there may be hope of such an exemption for firms holding crypto under the pro-crypto Donald Trump administration.

In a January 2 letter, MicroStrategy pushed for this exemption and described the tax rule’s effect on its business as unjust.

Interestingly, despite being aware of this looming tax bill, MicroStrategy has shown no signs of slowing or pausing its Bitcoin acquisition strategy.

Just on Tuesday, January 21, the firm disclosed an 11,000 BTC buy worth an estimated $1.1 billion. In 2025 alone, the firm has already acquired 14,600 BTC worth over $1.44 billion as new purchases are announced almost every week.

Meanwhile, this is the second time MicroStrategy has faced tax problems in recent years. In June 2024, it paid $40 million to settle tax fraud allegations.

Ripple Asks Court to Set This Deadline For the Filing of Its Cross-Appeal Brief in SEC Case 

Mark Brennan
-
0
Ripple Asks Court to Set This Deadline For the Filing of Its Cross-Appeal Brief in SEC Case 

Legal counsel representing Ripple in its ongoing lawsuit against the SEC seeks to file its cross-appeal brief by mid-April. 

Ripple’s lawyers made the request yesterday in a letter sent to Catherine O’Hagan Wolfe, the Clerk of the Court of Appeals for the Second Circuit. 

According to the letter, Ripple wants the court to set April 16, 2025, as the due date for the submission of its brief in the appeal and cross-appeal against the SEC.

The counsel disclosed that two parties involved in the appeal, including Ripple CEO Brad Garlinghouse and co-founder Chris Larsen, support this request. Although Ripple made the request yesterday, it became public knowledge today following an update from James K. Filan. 

Ripple Cross-Appeal Brief 

Meanwhile, the upcoming brief relates to Ripple’s cross-appeal. Recall that Ripple filed a cross-appeal shortly after the SEC indicated interest to appeal the company’s legal victory. Ripple aims to overturn the SEC’s victory regarding its institutional sales of XRP, which were deemed investment contracts. 

As previously reported, the district court ordered Ripple to pay a $125 million fine and imposed an injunction on the company’s future sales of XRP to institutional clients. The injunction followed Ripple’s violation of securities laws through its past institutional sales of XRP. 

On October 25, Ripple hinted at what the broader crypto community should expect from its cross-appeal brief. The company asked the court to review whether an investment contract requires an actual contract under the 1933 Securities Act. 

It sought clarification about whether its institutional sales of XRP, which were deemed securities, contained all elements of Howey. Ripple also brought up its fair notice defense and the Rule 65 arguments. The company will shed light on these arguments in its appeal brief that they might file in mid-April 2025. 

Court Grants Similar Request From SEC 

Recall that the SEC made a similar request last year in preparation for the filing of its opening appellate brief. On October 24, 2024, the SEC asked the court to set a deadline of January 15, 2025, for the filing of its opening appeal brief. The court granted the request a week later.

Notably, the SEC filed its opening brief last week in accordance with the court’s scheduling order. Now, Ripple wants the court to set a due date of April 16, 2025, for the filing of its brief. 

Legal Expert Thinks Ripple Won’t File Appeal Brief 

Commenting on the development, pro-XRP lawyer Jeremy Hogan, a Partner at Hogan & Hogan law firm, characterized the request as a ‘standard’ procedure, emphasizing that the court gave the SEC the same amount of time (90 days) to draft its initial brief. 

However, Attorney Hogan suggested that the SEC v. Ripple appeal might see a major development that could make it unnecessary for the company to file its brief on April 16, 2025. 

This development might be in the form of a settlement or outright dismissal of the lawsuit by the new SEC leadership. Attorney Hogan has consistently stated that the Second Circuit will not rule on the case, hinting at a potential dismissal.

Shiba Inu Investors Accumulate 7.63 Trillion SHIB in 2025

Albert Brown
-
0
Shiba Inu Investors Accumulate 7.63 Trillion SHIB in 2025

Shiba Inu investors holding between 0.1% and 1% of the total supply accumulated a staggering 7.63 trillion SHIB, while whale and retail holdings declined.

Shiba Inu recently dropped below the critical $0.00002 mark, a level that previously acted as a strong support. Coinciding with the broader market fluctuations this week, the token initially held its ground before slipping below this mark on Thursday.

However, in the last 24 hours, SHIB regained traction, rising 1.55% to $0.00002026, though it remains down 11.11% over the past week. 

Shiba Inu Investor Holdings Surging

A key observation amid this price fluctuation is that mid-sized investors have emerged as the dominant accumulators of SHIB this year. According to data from IntoTheBlock, addresses holding between 0.1% and 1% of the circulating supply have significantly increased their holdings.

As of January 20, these investor-tier wallets held 155.97 trillion SHIB, marking an increase of 7.63 trillion tokens from December 31, 2024, when they held 148.34 trillion SHIB. This figure represents 15.07% of the total SHIB supply, reflecting a 5.51% increase in holdings among this investor group.

Meanwhile, whale holdings have slightly declined. As of January 20, large holders controlled 569.57 trillion SHIB or 57.88% of the circulating supply. The figure marked a decrease from 575.41 trillion SHIB at the end of December when whales held 58.46% of the supply.

Retail participation also saw a slight dip, declining by 0.92%. On December 31, retail investors held 260.56 trillion SHIB, which has since fallen to 258.73 trillion SHIB, representing 26.29% of the total supply.

Shiba Inu holder disctribution
Shiba Inu holder distribution

Shift in Holding Patterns 

Further analysis reveals changes in SHIB holding periods. Short-term and long-term holders have been outpaced by cruisers—investors who hold SHIB between one and twelve months. 

In January, cruiser holdings surged by 13.52%, while long-term holders saw a modest increase of 0.05%. Conversely, traders—who hold SHIB for less than a month—declined by 31.93%, suggesting reduced short-term speculation.

Shiba Inu holders
Shiba Inu holders

SHIB Exchange Reserves Decline

Elsewhere, supporting the accumulation trends, CryptoQuant data reveal that Shiba Inu reserves on exchanges have also dropped significantly.

On January 21, the reserve hit an all-time low of 98.4 trillion SHIB, marking a 27.4% decline since the beginning of the year. This decrease came just a day after the U.S. presidential inauguration. 

Shiba Inu Exchange Reserves
Shiba Inu Exchange Reserves

Although reserves slightly rebounded to 98.6 trillion SHIB, they still reflect a 27.2% decline overall. A reduction in exchange reserves often indicates that investors are transferring assets to private wallets or staking platforms, lowering the available supply for selling.

1...983984985...2,658Page 984 of 2,658