The majority of Shiba Inu owners continue to hold on to their long-term holdings despite falling prices... Whales are ”active”

Despite the price drop and reduced trading, it appears that the majority of Shibainu (SHIB) holders are still holding onto the token for the long term.
On the 7th (local time), UToday published recent data from blockchain analysis platform IntoTheBlock.
Citing the report, 78% of SHIB holders are classified as long-term investors who have held the tokens for more than a year. Currently, 59% of SHIB holders are holding them at a price lower than the average purchase price.
Only 4% are at breakeven level, and only 37% of holders are making profits, suggesting that after a steep rise in 2021, the market is currently going through a tough time.
As a result, SHIB's community participation and trading activity are also slowing down. SHIB price is 0.0000 yen lower than 24 hours ago on the coin market cap as of 9:00 a.m. on the 8th.
It is trading at $0.000012, up 51% and down 3.24% from a week ago. The number of subscribers to the Telegram channel has decreased by 0.38% in the past week. This is due to the fact that SHIB
This indicates a decline in community participation, suggesting some investors are losing interest. Also, only 2% of wallets have newly invested in SHIB in the past month.
The inflow of new investors has slowed significantly, with only 100,000 new shares. Meanwhile, large investors are still active. According to IntoTheBlock data, SHIB's inflow in the most recent week was 100,000 shares.
Large trading volume reached $184.96 million, indicating that high net worth individuals and institutional investors are still actively trading SHIB.
In addition, SHIB has a high correlation of 0.84 with Bitcoin, and is heavily influenced by the overall market trend.
For prices to start rising, decoupling from Bitcoin and full-scale expansion and adoption of the Shibainu ecosystem are expected to be important variables.
In conclusion, while interest from retail investors has waned somewhat, the presence of long-term holders and institutional investors keeps SHIB partly excited about its future.