Shiba Inu (SHIB) Price Hits Six-Week High as Key Indicator Explodes 783%

Shiba Inu (SHIB) just smashed through to its highest level in six weeks, and there's something pretty wild happening behind the scenes. The meme coin's latest rally comes with a massive 783% spike in a crucial market indicator that's got traders talking.

SHIB Price Breaks Out to $0.00001416

SHIB bulls came out swinging this Monday, pushing the token to $0.00001416 - a level we haven't seen since late May. That's a solid six-week high, and it shows this meme coin still has some serious firepower left.

Right now, SHIB is sitting at $0.00001387, up 5.68% in the past 24 hours and an impressive 18% for the week. Not bad for a token that many people still think of as just another meme coin.

What's Behind the 783% SHIB Indicator Surge?

Here's where things get interesting. According to IntoTheBlock data, the holding time of transacted SHIB coins has absolutely exploded - we're talking a 783% increase over just seven days. That's huge.

This indicator basically tracks how long people hold their coins before selling or trading them. When it spikes like this, it usually means holders are getting more stubborn about selling. They're either expecting prices to go higher or they're seeing more potential in what SHIB might become.

Think about it this way: if everyone's trading in and out quickly, that's short-term thinking. But when people start holding longer? That's when you know sentiment is shifting toward something more serious.

SHIB Holders Are Playing the Long Game

The bigger picture here is pretty fascinating. IntoTheBlock's data shows that on average, people hold their SHIB for about 2.8 years before doing anything with it. Considering SHIB has only been around for roughly five years, that's actually quite impressive.

This isn't your typical meme coin behavior where everyone's trying to flip for quick gains. SHIB holders seem to genuinely believe in the long-term potential here, and they're willing to sit tight and wait for it to play out. That kind of patience usually pays off in crypto, especially when it's backed by real development and community growth.

The combination of rising prices and people holding tighter to their bags? That's exactly the kind of setup that can lead to some serious price action down the road.