According to the security-focused ranking platform CertikShiba Inu (SHIB) seems to be growing into a “safe haven”.
The reasons for this, he says, are based on the on-chain analysis data examined. The Web3 Security Ranking noted that meme pieces are well known for being built around their online communities, and SHIB is no different.
Have holders stagnated or steadily increased? Also available in the Skynet Token On-Chain Monitoring & Intelligence module, an On-Chain Analytics section detailing the growth of token holders
Looks like SHIB has been gaining momentum as a safe haven, especially in recent days pic.twitter.com/le8soA8ibD
— CertiK (@CertiK) November 17, 2022
He noted that the Social Sentiment Index, according to Skynet’s Social Analytics module, remains a crucial and effective tool for determining what online communities think of specific projects.
Based on this, historical social sentiment for SHIB, according to a chart published by Certik, was 79 out of 100. This remains positive for the blockchain.
Another metric it considers is SHIB’s performance summary by Skynet’s “Token On-Chain Monitoring & Intelligence” module. Certik analysts comment that despite the decline in price over the past 24 hours, SHIB has seen a 0.25% increase in token holders over the same period.
As reported by U.Today, Shiba Inu continues to set new highs in its owner count, which currently stands at 1,274,138, according to data from WhaleStats. Likewise, incumbent conviction seems to be at an all-time high.
According to statistics from IntoTheBlock, the percentage of long-term holders, or “hodlers,” for SHIB is currently at an all-time high, marking a new high for the indicator. The proportion of long-term investors who have held their assets for more than a year has risen to 52%, according to data from IntoTheBlock.
Notably, SHIB has underperformed this year, impacted by negative events inside and outside the cryptocurrency industry.
At press time, SHIB was changing hands at $0.0000091, slightly higher over the past 24 hours. In the near term, SHIB’s daily RSI has flattened slightly below the neutral 50 mark, suggesting the possibility of range trading ahead of the next move.