- Shiba Inu holders who held SHIB for over 11 months have not sold their holdings since December 2021.
- Bullish catalysts failed to move long-term holder’s resolve, Shytoshi Kusama recently announced the burn of trillions of SHIB.
- Shiba Inu price yielded 40.6% gains since December 28, wiping out the losses from the FTX’s collapse.
Shiba Inu holders who acquired SHIB more than 11 months ago are holding onto their tokens. These holders have refrained from selling their SHIB holdings since December 2021. Shiba Inu’s layer-2 scaling solution Shibarium’s launch is a long-awaited developmental milestone and it could act as a bullish catalyst for the meme coin. It is likely that SHIB holders are awaiting this milestone for shedding their Shiba Inu tokens.
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Shiba Inu holders await these two bullish catalysts in SHIB
Shiba Inu’s lead developer Shytoshi Kusama announced the burn of trillion of SHIB tokens at layer-2 scaling solution Shibarium’s launch. The head of the Shiba Inu project recently confirmed that one of the development team’s goals is to burn trillions of SHIB tokens with the layer-2 protocol’s launch.
Kusama was addressing the query of a community member and this disclosure has significantly increased the hype around Shibarium. The Shiba Inu community, known as SHIB Army considers “token burn” as one of the primary concerns.
Kusama’s revelation in the community discord channel was recently brought to public attention by ShibaSpain, an anonymous Spanish-based Shiba Inu community member on Twitter. Shibarium is therefore one of the largest bullish catalysts for the Dogecoin-killer token.
I have always said it, TRILLIONS $SHIB will be burned when #Shibarium is fully active. #SHIBARMYSTRONG pic.twitter.com/M6r0s3J7Pt
— Shib Spain️ (@ShibSpain) January 25, 2023