$SHIB is seeing a solid rise of long-term investors on its network, which could be the first sign of fundamental changes of the asset
, the prominent meme token, has seen a significant shift in its trading behavior as the percentage of long-term holders on the network reached 65%, while the percentage of short-term holders dropped to 4%. This indicates that traders have become more conservative in their approach to SHIB, with a higher percentage of holders opting to hold the token for the long term rather than engaging in short-term trades.
The shift in trading behavior comes amid a downward trend in the price of SHIB. Based on previous articles by U.Today, we know that the price of SHIB has reversed from its local high and returned to the price level we saw back at the beginning of February. This has resulted in a drop in network activity and a stagnating burn rate, which are bearish signs for the token.However, despite the drop in price, a significant percentage of SHIB holders remain committed to the token.
As we mentioned earlier, the lack of drivers for assets like Shiba Inu that are not tied to any trending areas of the crypto industry, including ordinals and ZK rollups, could be contributing to the stagnating
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