And how many Shiba Inu holders have lost out after that crash?
Bitcoin assets like Shiba Inu lost value in the past 24 hours. CoinMarketCap comprehensive research shows that for the last 24 and 7 days, the top 30 cryptocurrencies by market capitalization have declined. Therefore, Shiba Inu and crypto also lost their prices. SHIB is currently trading at $0.00001464 which means it has fallen by 14.75% in a week time frame while DOGE another meme currency dropped by 16.12%.
SHIB holders are feeling the heat, with on-chain profitability dynamics.
Losing Shiba Inu Holders
IntoTheBlock’s in/out of the money indicator shows how many addresses are in profits or loss at current SHIB prices. Over the past one day period, there were more addresses (-51.98%) losing funds than those (+46.93%) who earned them.
There are more people losing money (700,400) as compared to those (632,320) who are gaining it unlike among others where around 1 percent of all addresses belongs to “at-the-money” group i.e., they neither lose nor make anything.
On top of these numbers, we need to include individuals who bought into market pricing when measuring number of holders in loss. In other words, according to IntoTheBlock information: roughly sixty-one percent (60.62%) of SHIB wallets receiving the token between $0.000012 and $0.000017 belong to those that currently incur losses; while thirty-seven point four one percent (37.41%) are profitable.
What’s Next for SHIB?
Since July, the crypto markets have been in a state of uncertainty as Bitcoin has continued to consolidate between $60k and $70k without breaking out. Several investors among whom are mostly SHIB holders, have had hard time with it due to its prolonged consolidation.
Despite these obstacles, many Shiba Inu investors expect the meme currency to appreciate. On X, Lucie from Shiba Inu marketing department addressed some of these issues. She urged the community members to concentrate on long term Shiba Inu ecosystem development and growth thereby stressing their confidence.
