Total Number Of Shiba Inu Addresses In Profit Drops As Market Braces For Impact

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	11,196,336,592	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

11,196,336,592

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000019	0.000019	0.000019

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000019

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.00002	0.000018	0.00002	0.000019	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.00002

0.000018

0.00002

0.000019

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:00:00	14,365,171.00	0.000019	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:00:00

14,365,171.00

0.000019

USD

Price x Volume	Volume	Base Symbol	Related Pairs
50,135,238.07	181,000,202,433.70	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

50,135,238.07

181,000,202,433.70

Total Number Of Shiba Inu Addresses In Profit Drops As Market Braces For Impact

10/05/2023 5:00pm

NEWSBTC

The bear market has been brutal on cryptocurrencies in the market such as Shiba Inu. As a result, the profitability levels of investors in the meme coin have dropped drastically during this time. Even now, SHIB holders continue to see a decline in profitability, bringing it to one of the highest levels of losses since inception. Only 18% Of Shiba Inu Holders Are In Profit Data from on-chain aggregators show Shiba Inu investors are not faring well in the current market. Unlike other top tokens in the space, the meme coin has seen its percentage of holders in profit actually drop below 20% while others maintain their positions above 40%. Related Reading: Matrixport Report: Here’s What Happens To Bitcoin If Inflation Continues To Fall Currently, there are only 18% of SHIB investors seeing a profit, which is one of the lowest margins recorded since the token was first launched in 2020. This puts the vast majority of investors in losses, some more severe than others. To be more precise, a total of 78% of all addresses holding SHIB are nursing losses at current prices. This leaves only a meager 4% of investors sitting at breakeven, meaning that these coins were last moved at prices similar to current market prices. Only 18% of SHIB holders in profit | Source: IntoTheBlock However, unlike holder profitability, the duration of which these investors are holding their coins has been growing. There are now more long-term SHIB holders than there have ever been with 68% of holders having held their coins for more than a year. Mid-term holders that have held between 1-12 months make up 29%, while only 3% can be classified as short-term holdings, having held for less than a month. SHIB Price Struggles To Hold Up Shiba Inu continues to struggle after falling below support at $0.00001. Since then, the digital asset seems to be in free fall with bulls unable to establish any significant support since then. However, it has not been entirely bad for the meme coin given that it has seen 1.06% gains in the last 24 hours. Although small compared to what investors are used to in the crypto market, it shows some resistance from bulls against sellers. SHIB struggles to recover | Source: SHIBUSD on TradingView.com Now, SHIB is well below its 50-day and 100-day moving averages which puts it well on a bearish trend in the short to mid-term. The only hope would be for bulls to rally support t $0.0000085 which could eventually serve as a bounce-off point for future increases. Otherwise, a fall to $0.000007 could be programmed. Related Reading: PEPE, WOJAK, TURBO Take A Nosedive As Meme Coin Euphoria Dies Down SHIB’s price is currently down almost 90% from its 2021 all-time high. On the shorter timeframe, it is seeing losses of 10.98% on the 7-day chart. This has brought its market cap down to $5.24 billion, making it the 15th-largest cryptocurrency in the space. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

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