The number of Shiba Inu wallets containing small quantities of SHIB has declined to its lowest point in almost two years, indicating a potential change in attitude among retail investors.
The decline in smaller wallets coincides with unstable market conditions, raising doubt about SHIB distribution going forward.
Santiment has labeled SHIB as the worst-performing Dogecoin in 2024, with substantial drops in both average and long-term trading returns.
Despite negative events, some analysts are optimistic about SHIB's potential in the long term, with a bullish surge forecasted in 2025.