Shiba Inu Latest News: How Many SHIB Holders Are in Profits?

Shiba Inu: How Many SHIB Holders Are Suffering From Losses and Enjoying Profits?

Shiba Inu is currently trading at $0.000008929 and is down nearly 1% in the day’s trade. SHIB has been on a downward trend for more than a year lately making investors lose a lot of money. The dog-themed token is no longer the once ‘golden egg’ laying hen that made early investors turn millionaires. It has now turned from a profit-making machine to a loss-generating token since early 2022. The token is no longer attractive to the average investor despite its price being under the 1-Cent mark.

The latest data from IntoTheBlock shows that 65% of Shiba Inu holders are currently underwater and experiencing losses. Only 29% of investors are enjoying profits in the dog-themed cryptocurrency. However, just 6% of Shiba Inu holders are currently breaking even with no profits or losses.

Therefore, the majority of SHIB holders are currently under loss with only a few in profits. Just a handful of them are breaking even and the prospects don’t seem bright. In addition, around 78% of SHIB’s wealth is concentrated with a handful of investors.

The development is alarming as it poses a risk of large sell-offs that could lead to dramatic price slumps. The move could create large ripple effects that could trigger another round of sell-offs leading to a domino effect.

At press time, SHIB was trading at $0.000008929 and is down close to 1% in the 24-hour day trade. SHIB is also down nearly 90% from its all-time high of $0.00008616, which it reached in October 2021.

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