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Two Shiba Inu metrics, the “large holders inflow” and “addresses by time held” show resilience among large SHIB holders and seasoned investors despite price drop to $0.000017.
The market turbulence has affected Shiba Inu more than most, triggering a 32.15% price collapse in June to the $0.000017 territory. Despite the ongoing storm, some market participants, especially whales and seasoned investors, remain unfazed. This comes amid sustained selloffs from other tiers of holders.
Notably, market data from analytical resource CryptoQuant indicates that market participants deposited a whopping 2.3 trillion Shiba Inu tokens to exchanges yesterday. This represents the largest daily Shiba Inu exchange inflow since June 12, shortly before SHIB eventually relinquished the $0.00002 price territory.
Shiba Inu Large Holders Inflow Indicates Accumulation Trend
However, two metrics from IntoTheBlock confirm that large and old investors have not joined in the selloff spree. The Large Holders Inflow metric shows that whale investors holding at least 0.1% of Shiba Inu’s circulating supply worth about $10 million have instead continued to increase their balances despite the selloffs.
These investors accumulated a whopping 1.86 trillion Shiba Inu tokens worth $31.62 million yesterday. Interestingly, this accumulation spree came as SHIB dropped dramatically yesterday, hitting a 4-month low of $0.00001632.
Although these large investors also pulled out assets yesterday, their outflows were significantly lower, amounting to 448.6 billion SHIB. Consequently, Large Holders Netflows hit a positive flow of 1.42 trillion Shiba Inu tokens on June 24. This marked the highest positive netflows over the last three months.
Remarkably, this metric has seen a positive surge of 7,273% over the last 30 days, demonstrating sustained inflows. Moreover, data from Santiment shows that addresses holding at least 1 trillion Shiba Inu have amassed 280 billion tokens since May 1 despite the ongoing market correction.
Addresses by Time Held Metric Shows Resilience Among Hodlers
Meanwhile, the Addresses by Time Held metric further disclosed the behavior among seasoned investors and new holders. This metric confirms that Hodlers (those holding for at least a year) have increased to 1.03 million addresses, while Cruisers (holding for 1 to 12 months) have reduced to 284,410 wallets.
In addition, Traders (those holding their tokens for less than 1 month) have dropped to 32,190 addresses. Notably, as of June 1, the Shiba Inu market had 1.02 million Hodlers, 287,920 Cruisers, and 36,700 Traders. This confirms that while Cruisers and Traders left the market, more Hodlers entered the scene.
This behavior is typical in bearish market conditions, where the more experienced investors demonstrate resilience in anticipation of a recovery push. The pattern also occurred in the weeks leading to the March rally by Shiba Inu. Notably, other tiers of addresses reduced from January to February, while Hodlers increased.
Meanwhile, Shiba Inu is currently leveraging the mild market recovery to solidify the support at $0.000017, currently trading for $0.00001713. SHIB has increased by a meager 0.53% today, with plans to push above the $0.00001794 resistance, a move that could allow it to reclaim $0.000018.