Despite the recent price increase of the Shiba Inu cryptocurrency bringing optimism to the market, most holders remain at a loss.
Current Profitability of SHIB Holders
Data from IntoTheBlock shows that of the 104.6 trillion SHIB valued at $1.28 billion, only 10.62% of addresses are in profit. This indicates that the majority of holders purchased the token at higher prices.
Overall State of the SHIB Market
Currently, 85.50% of investors holding 842.2 trillion SHIB are in the red, with their assets valued at $10.29 billion. The remaining 3.88% of holders have 38.17 trillion SHIB, which can be considered 'at the money.'
Future Prospects for SHIB
Interestingly, before breaking the $0.000012 level, the activity of SHIB whales surged by 173%, with over 1.30 trillion SHIB moved within 24 hours. If this trend continues, SHIB's price may experience an uptick. A resurgence in the weekly burn rate may also contribute to price growth.
While the current situation regarding the profitability of Shiba Inu holders is bleak, the rise in activity from major players and the increase in token burns could lead to future price recovery.
