ICYMI: despite recent price drop, ShibaInu's holder count continues to grow SHIB $SHIB SHIBArmy
The recent increment suggests a growing community, which remains a healthy sign. Although the growth in holders might not necessarily impact the price in the near term, it may indicate interest in a token in the long term. At current prices, Shiba Inu remains down 89% from the all-time high of $0.000088 reached in October 2021.
Per on-chain analytics company Santiment, most crypto assets have reached historic MVRV levels, or"pain" thresholds in their trading returns. It notes that, typically, this is where a price turnaround to alleviate current losses may be anticipated, although it is difficult to predict when this will occur.
The recent drop in price does not seems to deter Shiba Inu's large investors from accumulating at a discount, as SHIB now makes up the biggest chunk of their holdings.
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