SHIB gained 250,000 additional users despite the crypto winter

Shiba Inu gained more than 250,000 new holders in what has been a difficult year for crypto-currencies, characterized by market failures and falling values.

Digital currencies are underperforming due to the Fed’s tightening monetary policy and a series of failures of major companies in the sector, including Terra, Celsius and FTX.

Shiba Inu, in late November last year, reached the million holder mark for the first time. This comes shortly after it climbed several thousand percent to all-time highs of $0.000088 in late October 2021. SHIB was a big winner in 2021, rising several million percent.

According to WhaleStats, there are currently 1,257,121 Shiba Inu owners. This number was considerably higher in past weeks, sometimes reaching the 1.274 million mark. So on average, SHIB has gained over 250,000 owners in the last 12 months.

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While users may have been impressed by its amazing rally in 2021 and decided to get on board, the same was not true in 2022.

At the time of publication, SHIB was down 4.13% at $0.0000093. At this current price, SHIB is down nearly 90% from its all-time high. The motivation for new Shiba Inu owners becomes very interesting at this point.

56% of SHIB holders are in it for long term reasons.

A dynamic change is observed in the composition of its holders. Based on the length of time SHIB holders have held their tokens, a large portion, 56%, have held them for more than a year.

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SHIB came into existence two years ago, precisely in August 2020. This implies that these owners got on board when SHIB gained popularity and have held their tokens ever since.

Despite the significant price drop seen for the SHIB token and crypto-currencies in general, the year 2022 has produced many achievements for the Shiba Inu ecosystem.

From the SHIB metaverse to the Shiba Inu burn portal to the integration of Welly’s fast food and the many ” partnershibs “, including those of John Richmond and including SHIB quotes on the exchanges, the list goes on and on. However, the truth remains that market conditions may be somewhat disconnected from reality on the ground.

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