Shiba Inu, the cryptocurrency that has taken the digital asset world by storm, has reached an unprecedented milestone as its network continues to expand at an astounding rate. Over the past month, the SHIB network has experienced remarkable growth, highlighted by the creation of 2,538 new SHIB addresses on May 26 alone.

According to data from Etherscan, the current number of SHIB holders stands at an impressive 1,309,548. As the number of SHIB holders changes, so does the composition of the community, and in this regard, Shiba Inu has set a groundbreaking record with the percentage of its long-term holders reaching an all-time high.

Recent data from IntoTheBlock, which analyzes the composition of token holders based on their holding time, reveals that an astonishing 70% of SHIB holders have held their tokens for over a year, establishing them as long-term holders. This percentage surpasses that of several other prominent blockchains, including rival Dogecoin at 69% and Cardano at 53%. In contrast, 28% of SHIB holders have held their tokens for less than a year, while a mere 2% have held onto their tokens for less than a month. These figures indicate the enduring faith of the SHIB community, even in the face of the bearish market conditions that have persisted over the past year.

Despite the recent price declines, with Shiba Inu trading at six-month lows and currently valued at $0.0000084, the overwhelming proportion of long-term SHIB holders illustrates the community’s unwavering confidence in the token. This resolute commitment is a testament to the strong belief that Shiba Inu holds significant potential for the future.

In addition to the impressive growth in the number of long-term holders, Shiba Inu has witnessed a staggering 177% surge in large transactions within the past 24 hours. These large transaction spikes are often indicative of heightened activity from whales, referring to individuals or entities with substantial holdings who may be involved in buying or selling SHIB tokens.

As of the time of writing, SHIB is showing signs of a recovery, with a marginal increase of $0.0000084 over the past 24 hours. This resurgence, coupled with the growing support from long-term holders, demonstrates the resilience and optimism within the SHIB community.

Shiba Inu’s recent achievements highlight its growing prominence within the cryptocurrency landscape. As the SHIB network continues to expand and attract new holders, the future of this digital asset appears promising. With an increasing number of individuals recognizing the potential of Shiba Inu, the cryptocurrency is poised to make a lasting impact on the blockchain industry.

As the cryptocurrency market evolves, Shiba Inu remains a standout player, defying market trends and garnering steadfast support from its dedicated community. By embracing the vision behind Shiba Inu, investors and enthusiasts alike are displaying their commitment to a token that has captivated the imagination of many.

While Shiba Inu currently faces a challenging market environment, the determination and optimism exhibited by its community serve as a reminder of the power of collective belief in a project. The long-term holders, who make up the majority of SHIB holders, demonstrate a steadfast commitment to the vision and potential of Shiba Inu. Their resilience in the face of market volatility reflects a deep understanding of the inherent fluctuations within the cryptocurrency realm.

In conclusion, Shiba Inu’s recent milestone of achieving an all-time high in the percentage of long-term holders is a testament to the unwavering faith and confidence placed in this digital asset. Despite market fluctuations and recent price declines, the SHIB community remains resolute in its belief that Shiba Inu holds great potential. With the continued growth of the SHIB network, marked by the creation of thousands of new addresses, and the increasing number of long-term holders, Shiba Inu is solidifying its position as a prominent player in the cryptocurrency landscape.