Coinbase Shiba Inu Holders Displays Long-term Commitment Despite Decline in Value

Coinbase Shiba Inu Holders Displays Long-term Commitment

The median duration for investors holding Shiba Inu (SHIB) on the widely-used cryptocurrency platform Coinbase has reached 250 days. This measures the number of days during which investors retain their assets on the platform before transferring them to an external wallet or selling them.

Additionally, the median hold time for Shiba Inu (SHIB) on Coinbase exceeds that of other commonly traded cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). Coinbase has suggested that a higher median hold time indicates a trend toward the accumulation of assets.

 Conversely, a lower hold time is associated with greater token movement. It is worth noting that SHIB is ranked as the eleventh most widely traded cryptocurrency on Coinbase.

Related article: Is the Shiba Inu Community Losing its Momentum in 2023?

Shiba Inu Trends in Hong Kong

SHIB has emerged as a globally sought-after cryptocurrency, having seen an almost 27% rise in value since January this year. This is reinforced by the token’s growing prominence on Hong Kong’s CoinEX exchange, where SHIB is presently ranked as the fourth most heavily traded asset, comprising 2.01% of total trades. Only Bitcoin (BTC), with an overwhelming 48.3% share, Ethereum (ETH), with 8.67%, and Dogecoin (DOGE), with 2.54%, are more popular on the exchange.

CoinMarketCap data indicates that on a single day, users of the Hong Kong-based exchange traded SHIB worth an astonishing $752,013 (equivalent to $752.01K).

Source: CoinEX/ The Crypto Basic

It is worth noting that SHIB and DOGE are closely matched in terms of their trade percentages, despite being considered rivals and sharing similar levels of popularity. However, SHIB’s price does not mirror this sentiment, having decreased by 1.31% over the past 24 hours.

 Additionally, SHIB’s price has dropped by a significant 88.08% from its all-time high of $0.00008616. As of the time of writing, SHIB is trading at $0.00001026, experiencing a 0.14% increase over the past hour.

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