Saitama Inu’s price has seen its own fair share of ups and downs over the past few months. It peaked at $$0.000000147 in mid-November but witnessed a pullback soon after. Things got polished again towards the end of December and improved further during the initial days of January.
Post creating its local peak at $0.0000000828 on 5 January, the coin embarked on its downtrend journey yet again. In fact, the market’s crash observed last week managed to push down Satima’s price to a level that was last observed only in October.
Without much help received from its top HODLers, Saitama’s price continues to hover around its lows.
As can be seen from the snapshot attached below, the transaction activity of the top 100 HODLers has sort of become inert. When the local price peak was created earlier in January, things looked glossy on the transactions chart. It has been in one of its worst shapes of late, thanks to the broader market downtrend.
A deeper examination into other key metrics brought to light that the average value of Saitama held by the top 100 HODLers had shrunk by close to 20% on the daily time window. Parallelly, the net flow too portrayed a negative value of 570% in the same time frame, indicating that the said participants have been selling their coins of late.
Such trends, amidst the not-so-steady state of the wider market, have kept Saitama grounded to its current price level.
The bright side
Now even though Saitama has not been able to fare that well on the aforementioned fronts, there is something to cheer about.
Saitama created a new HODLer record. As per a recent tweet by analysis platform WhaleStats, this token now boasts 320,033 HODLers.
The rise in the number of addresses possessing this token, to a fair extent, narrates how the community interest is getting intense. By and large, this is indicative of Saitama’s expanding reign and offers a reason to remain optimistic about the token’s prospects.