Canine-themed meme crypto asset Shiba Inu (SHIB) remains one of the exciting crypto prospects with great potential to reward its holders. After gracing the crypto market in 2020, the meme coin has taken its owners on a wild run characterized by massive profit returns.
Consequently, the coin has witnessed a surge in its holders’ base, especially as we continue to edge closer to an imminent bull run with the potential to orchestrate SHIB to a new all-time high (ATH).
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Statistical Data Corroborates The Surge In The SHIB Holders’ Claim
According to SHIB’s statistical data summary on IntoTheBlock, the “Holders Making Money at Current Price” revealed that 58% of the meme coin holders are recording profits, 4% are neither losing nor gaining, while the remaining 37% are accumulating losses.
The above statistics imply that 37% of SHIB holders had accumulated the token at selling prices, higher than its current approximated $0.000024 market valuation. Notedly, the only period the coin has traded above its current status was between March and now. Hence, it indicates that the coin boasts a significant new holders pool.
Other relevant statistics indicated that most SHIB owners are whale investors, as they made up 73% of the coin’s “Concentration by Large Holders” index. In addition, “Holders Composition by Time Held” data indicated that 76% have owned the token for over a year, 21% have held on to it between 1 to 12 months, and only 3% have owned it for less than a month.
How High Shiba Inu Could Surge Relative To Ethereum
As the bull season edges nearer, the conventional pattern of capital influx has always extended from Bitcoin down to Ethereum, after which it trickles down to altcoins with smaller market caps and meme coins, including SHIB.
Hence, how high SHIB will fly will invariably mirror Bitcoin and Ethereum price expansion in the bull season. Having estimated SHIB’s anticipated price relative to BTC’s in a previous article, this insight will be relative to Ethereum if it hits a $25,000 selling price.
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According to Ethereum’s price readings on CoinGecko, the Ether-based token is trading at about $$3,690, courtesy of a 3.1% decline in the previous 24 hours. Attaining $25,000 from its current price status would imply an Ethereum surge of about 577.5%.
Relating the above increment to SHIB, it implies that the canine-themed crypto asset will surge to about $0.00016. Interestingly, while $0.00016 might appear as a realizable target for SHIB, Ethereum’s projected $25,000 price ascent appears ridiculous, underscoring the high uncertainty associated with this evaluation.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.
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