Long-term Shiba Inu (CRYPTO: SHIB) holders were rewarded for their patience after a Robinhood Markets Inc (NASDAQ: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 $0.0002761.
Data from IntoTheBlock shows that those who maintained their SHIB holdings for a longer time horizon stood to benefit the most from the announcement.
Diamond Hands win$SHIB Hodlers remain unfazed and accumulated during the past weeks and it's paying off with today's Robinhood announcement
— IntoTheBlock (@intotheblock) April 12, 2022
- Addresses holding SHIB >1yr increased their balance by 57% in just 30 days
- They now hold 2.82% of the supplyhttps://t.co/zAGHgiM8Qo pic.twitter.com/iwkGVVzMx9
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.
