SHIB Hits 9-Month High on Long-Term Holder Backing

Shiba Inu has reached its highest price in nine months, driven by the steadfast support of long-term holders.

The meme coin's recent surge to $0.00003169 is largely due to the stability provided by these investors, who see profits but choose to hold onto their SHIB tokens rather than sell.

A US government decision regarding the sale of confiscated SHIB tokens has also piqued investor interest, with a relatively modest $1.5 million value sparking market attention.