Bitrabo Editorial
The cryptocurrency market has seen a sharp decline in the last 24 hours, with notable cryptos like Shiba Inu registering losses. According to CoinMarketCap, the top 30 cryptocurrencies by market cap have all experienced drops in value over both the past day and week. Shiba Inu is no exception, currently trading at $0.00001464, marking a 14.75% decline in a week.
Shiba Inu holders are particularly feeling the impact as on-chain data reveals a significant shift in profitability. Data from IntoTheBlock shows an increased number of SHIB holders in losses compared to those in profit.
Shiba Inu Holders in Losses
IntoTheBlock’s In/Out of the Money metric indicates a larger percentage of SHIB addresses in losses at the current price. Currently, 51.98% of total addresses are in losses, surpassing the 46.93% still in profit. This translates to around 700,400 addresses facing losses compared to 632,320 in profit.
Moreover, of the total DOGE addresses, 74% are still in profit despite the market downturn, showcasing different impacts on various cryptocurrencies and their holders.
Looking at those who bought in at current market prices, 60.62% of SHIB addresses that purchased between $0.000012 and $0.000017 are now in losses, while 37.41% remain profitable.
Future Outlook for SHIB
The crypto market has been stagnant since July, presenting challenges for investors, including SHIB holders. Despite this, many remain optimistic about a potential price surge for the meme coin. Lucie, Shiba Inu’s marketing lead, highlighted the importance of staying focused on the long-term growth of the ecosystem.
Recently celebrating its fourth anniversary, the Shiba Inu ecosystem has evolved significantly from its origins as a meme token.