Will Shiba Inu rise? SHIB kept longer on wallets than Bitcoin and Ethereum – Crypto News Flash
The average time users on Coinbase held onto the meme-inspired crypto asset, Shiba Inu, before selling or transferring it to another wallet has now exceeded six months. Coinbase’s price page data showed that Shiba Inu investors on the NASDAQ-listed crypto exchange have held onto their SHIB tokens for 183 days.
This period surpassed the average hold time for other top digital assets such as Solana (SOL), Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH). According to the crypto exchange’s remarks, a long hold time hints at an accumulation trend. In contrast, a short hold time indicates increased selling or transfer of tokens. Since Coinbase introduced the hold time feature on its platform, SHIB’s average hold time has been rising, according to Gfinity eSports data.
Coinbase’s price data also revealed that Shiba Inu ranks among the platform’s top 12 most popular digital currencies. The exchange also announced that 94 percent of its users that trade the meme-inspired coin keep acquiring more while the remaining are moving their tokens. It is important to note that Shiba Inu’s trade activity on Coinbase is only a tiny portion of its total trade activity. The meme-inspired token is listed on other top crypto trading platforms, notably Binance.
Four months ago, the anonymous creator of Shiba Inu deleted all his social media profiles and exited the Shiba Inu community. His exit was similar to how Bitcoin founder Satoshi Nakamoto left the Bitcoin community in December 2010. However, his departure hasn’t stopped or prevented SHIB holders from holding onto their tokens.
Since the founder’s departure, the SHIB community and developers have been responsible for running the affairs of the platform. They are developing new solutions which they plan to launch soon. SHIB: the Metaverse and Shibarium are the two popular solutions among others that they plan to launch soon.
Read More: Shiba Inu reveals the first concept of its metaverse project
The Shibarium is a layer-2 blockchain where SHIB token holders can migrate their tokens to enjoy lower transaction fees. Like other metaverses, SHIB: the metaverse is a metaverse exclusive to the SHIB community. Members have started purchasing plots on this metaverse.
In addition, SHIB developers recently released a preview of the Shiba Eternity, a trading card game. This game is one of the projects the SHIB community is highly expecting its release. SHIB developers released a preview of Shiba Eternity at the gameplay following an announcement by Shiba Inu project lead, Shytoshi Kusama.
Kusama earlier announced that Vietnam game players with iOS devices accessed the test version of the game, and the test was successful. Kusama also suggested various ideas for the SHIB community regarding Shiba Eternity. One of his suggestions was Shiba Eternity tournaments, with the reward for tournament winners being anything related to the SHIB ecosystem, such as SHIB tokens, bone, or NFTs. Many SHIB holders agreed that Kusama’s tournament idea was great and supported it.
Paul is a cryptocurrency enthusiast from Canada, and since 2021 he has been writing about cryptocurrency for online news portals. He writes mostly news-related articles. Stay tuned to his posts to stay up to date with the crypto world.
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