The second largest meme-inspired cryptocurrency, Шиба Ину (ШИБ), has seen a surge in positive market sentiment in recent weeks. With a 41% increase in the past 30 days, the top Ethereum-based meme coin is currently trading at around $0.00001153 on Friday.
The Shiba Inu network boasts over 1,288,164 holders, leading to a high trading volume of approximately $200 million, even amidst the bear market. However, it is the fundamental aspects of the coin that have truly excited the Shiba Inu community.
The Shib Ecosystem: A Work In Progress
The Shiba Inu ecosystem boasts a market capitalization of approximately $6,327,745,697.56. Long-term holders have been identified as a crucial aspect of the ecosystem’s success. According to analytics data from intotheblock, the number of Shiba Inu holders with over a year of holding history has increased in the past year. Additionally, short-term holders, or “cruisers,” those who hold the coin for between 1 to 12 months, have seen a decline.
According to on-chain data, some of the Shiba Inu long-term holders include Binance and crypto.com exchanges. The rest are unknown wallets with more than 1 percent of the total supply of Shiba Inu.
The Shiba Inu ecosystem is thrilled with the upcoming launch of the Shibarium network that will act as a layer 2 scaling solution. Reportedly, DogPad will be the first Launchpad ecosystem of the Shibarium network.
Source: https://coinpedia.org/altcoin/heres-why-long-term-holders-are-key-to-shiba-inu-ecosystems-success/