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Shiba Inu’s 65% Rally Triggers’ Largest LTH Move Since March

Press Releases Crypto News BeInCrypto Shiba Inu’s 65% Rally Triggers’ Largest LTH Move Since March

Shiba Inu (SHIB) price has experienced a remarkable 65% surge in the past week, attracting significant attention from both retail and institutional investors. However, following this rally, SHIB has seen a sharp pullback, bringing it to a critical support level at $0.00002411.

This price action has raised concerns, particularly regarding the behavior of long-term holders (LTHs), whose actions suggest that SHIB’s future recovery may not be as smooth as initially hoped.

Shiba Inu Investors Are Restless

In the past 24 hours, Shiba Inu’s “age consumed” metric—a key indicator for tracking the movement of coins held for extended periods—has surged to its highest levels since March. This spike in activity points to the largest shift of LTH-held SHIB tokens in the last eight months. LTHs, who typically form the backbone of an asset’s market stability, have been moving their tokens more significantly than usual.

This increased activity among long-term holders signals uncertainty, with many investors potentially reconsidering their HODLing strategies. Such moves are typically seen as a bearish signal, suggesting that LTHs may no longer be as confident in the coin’s short-term outlook.

Shiba Inu Age Consumed. Source: Santiment

Active deposits, which track the number of unique addresses moving their SHIB holdings to exchanges, have also seen a notable decline. After a significant spike in activity earlier this week, the number of active deposits has dropped, indicating that fewer investors are looking to sell their holdings in the immediate future.

This could be a sign of investors pulling away from the market, possibly awaiting a more favorable market condition or a clearer trend. The decrease in active deposits suggests that there may be less immediate pressure to sell, which is a positive sign for SHIB in the longer term.

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Author: Aaryamann Shrivastava

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