"The Shiba Army gang is hoping for a raise, don't give them false hope."
The second largest crypto memecoin, Shiba Inu (SHIB) is still a hot conversation among investors until now when the percentage holding SHIB saw an increase by passing the 60% level.
Through observation, long-term investors are reported to have held the memecoin for the past year and are the reason why the percentage of SHIB holders jumped from 1% to 60%.
For the record, 60% of SHIB holders who have kept the digital asset for more than a year while 36% for less than a year and 4% are investors who have held SHIB for less than a month.
Most of the whales were also identified as buying large amounts of the memecoin even though the cryptocurrency market has been continuously in a bearish price movement since the beginning of 2022.
Please be informed that SHIB reached the top 10 tokens purchased by the 200 largest Ethereum (ETH) whales due to the increased use of the memecoin among whales in the last 20 hours.
After surging to a new all-time high in October 2022, the memecoin's value fell back by 70% following unfavorable macroeconomic conditions.
However, the community remains confident that SHIB will see success in the coming year following the development of its growing ecosystem.
As of this writing, SHIB price is down around 0.34% at the $0.00000781 zone and continues its 3% decline this week.
