Which token is leading the HODLer race?

Shiba Inu dragging its feet

Like BabyDoge, even SHIB HODLers have been rising. Compared to 28 August’s 1.211 million monthly lows, the number has already inclined to 1.214 million. Even so, SHIB is lagging behind BabyDoge on this front. So, is that a problem?

Likely not. SHIB’s network activity has been recovering. Usually, an address is considered active when it becomes a direct participant in a successful transaction. Per data from ITB, Shiba Inu’s active addresses have risen by 10% over the past week, indicating that things are fundamentally on track for Shiba Inu.

Even on the price front, SHIB has room to glide up from its current price before being resisted by sellers. As depicted below, the next significant resistance cluster for Shiba Inu extends from $0l.000014 to $0.000021. Here, over 105.81k addresses have bought over 440 trillion SHIB. So, from the technical perspective, Shiba Inu can rise to the floor of the said range.

However, if Bitcoin and co. Dip during the weekend, then SHIB can be expected to follow suit because it shares a high correlation with them.

Also Read: Shiba Inu Records 3.6 Billion SHIB Burned in August