[SHIB Bullish Signal: Holders Accumulate Huge Profits]Driven by optimistic market sentiment, Shiba Inu (SHIB) has shown strong momentum recently, becoming one of the outstanding digital assets in the current ranking. Prior to this, SHIB had experienced several weeks of sideways trading, with the market anticipating a possible breakout and eyeing key on-chain development developments aimed at increasing utility.SHIB has increased in value recently and investors are reaping profits. Data obtained by Finbold on March 3 from crypto on-chain analytics platform IntoTheBlock shows that 63% of SHIB holders are currently making a profit, 32% are losing money, and 5% are flat. The holding distribution shows that 77% have held it for more than a year, 20% have held it for one to twelve months, and 3% have held it for less than a year.At the same time, key indicators related to SHIB rose significantly. Currently, SHIB’s 24-hour trading volume reaches $4.2 billion, making it the third most traded cryptocurrency. Additionally, data from LunarCrush shows that social engagement on Shiba Inu hit an all-time high in February, growing +1,520.6%, fueling a new wave of meme Dogecoin craze.While SHIB's performance is affected by market sentiment, factors such as continued network development are also seen as key that could impact its valuation. Token burning activity continues to accelerate, with data from Shiba Inu burn tracker Shibburn showing that 643,656,418 SHIB were burned across 134 transactions in February as an important move to increase utility.The challenge for SHIB is to maintain its current growth momentum while facing the risk of a correction as most investors are likely to seek profits.
