Diamond-Handed Shiba Inu Holders Fetch Rewards

Long-term Shiba Inu SHIB/USD holders were rewarded for their patience after a Robinhood Markets Inc HOOD listing sent the meme-coin soaring on Tuesday.

What Happened: SHIB gained 35% after Robinhood announced it was finally listing the token.

The meme token saw a 440% surge in daily trading volume which exceeded $4 billion as its price hovered around $0.0002761.

Data from IntoTheBlock shows that those who maintained their SHIB holdings for a longer time horizon stood to benefit the most from the announcement.

Wallet addresses that held SHIB for longer than a one-year period increased their holdings by 57% over the past 30 days.

These long-term SHIB holders now collectively hold 2.82% of the meme coin's circulating supply.

In recent weeks, SHIB has seen a significant amount of negative price action driven by weakened sentiment around the cryptocurrency market. On Monday, on-chain data revealed that only 36% of holders were making money at current prices.

After the Robinhood announcement, 43% of SHIB holders were officially back in the green.

Market News and Data brought to you by Benzinga APIs

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'Diamond-Handed' Shiba Inu Holders Fetch Rewards With Robinhood Listing