The Cumulative Balance of Shiba Inu Addresses Reaches New Peak

The cumulative balance of Shiba Inu addresses that have held their assets for at least a year has risen to a new peak according to on-chain data from blockchain resource IntoTheBlock. This bullish development arises amid bearish pressure on Shiba Inu due to the broader market’s turbulence.

For context, the meme coin is down 62% from its latest peak of $0.00003343, reached during the Donald Trump-led rally in late 2024. SHIB has seen three consecutive monthly declines, experiencing a collapse of more than 57%. Furthermore, Shiba Inu is down 9.04% this month alone.

Long-Term Shiba Inu Holders Continue to Accumulate

Despite the downturn, most long-term investors display resilience, as shown in recent IntoTheBlock data. Specifically, Shiba Inu Hodlers (those holding for over a year) have increased their cumulative balance to 786.24 trillion SHIB, a new all-time high. This class of holders also includes the burn address.

This is the only tier of holders that have consistently increased their balance amid the downturn. Additional data indicates that Cruisers (holding between 1 and 12 months) and Traders (holding for less than a month) saw their balances decline by 14.91% and 42.73%, respectively, in the last week.

In contrast, Hodlers experienced a 5.73% increase in their holdings during the same period. This suggests that while short-term traders panic-sell, long-term holders are continually accumulating in preparation for a potential rebound.

Interestingly, this trend occurred just before the recent Shiba Inu upsurge, pushing the asset to $0.000033 in late 2024. Hodlers increased their holdings from 747.06 trillion to 784.64 trillion SHIB between Oct. 30 and Nov. 4, 2024, just before the U.S. elections. During this period, Cruisers reduced their balance from 220 trillion to 182 trillion tokens.

Following the market-wide upturn, Hodlers started to reduce their balance gradually, leading to profit-taking trades, while Cruisers saw an increase, possibly due to FOMO entry.

Another Uptrend on the Horizon?

The recent rise in Hodlers’ holdings, coupled with a drop in Cruisers’ balances, might indicate another rally on the way. Long-term holders tend to increase their assets during poor market sentiments, particularly when expecting an uptrend.

In addition to long-term holders, large whales have also been accumulating more tokens. Data from IntoTheBlock reveals that whales holding between 10 trillion and 100 trillion SHIB have acquired 3.75 trillion SHIB since Jan. 31, corresponding with the current downtrend, increasing their balance to 164.4 trillion.

Recently, Shiba Inu has faced obstacles in its recovery campaign after spiking to $0.00001383 two days ago. The meme coin seems destined for a second consecutive intraday loss unless it rebounds above $0.000013, currently trading at $0.00001268.