Shiba Inu (SHIB) is off nearly 90% from its October 2021 peak of $0.000088
According to data from IntoTheBlock, 81% of Shiba Inu owners are now underwater on their investments at the current price of $0.0000081. Shiba Inu (SHIB) is down nearly 90% from its October 2021 high of $0.000088.
IntoTheBlock’s In/Out of the Money gives the percentage of addresses that are profiting (in the money), breaking even (at the money) or losing money (out of the money) on their positions at the current price. The In/Out of the Money indicators also look at unrealized profits/losses for addresses that are currently holding the crypto asset.
Currently, this indicator shows that 81% of Shiba Inu addresses are in loss, 14% of the remaining addresses are in profit and barely 4% are in balance. Shiba Inu addresses in profit have declined in bearish market conditions since the start of 2022.
Despite this, Shiba Inu’s long-term holders are increasing. According to the IntoTheBlock’s holders’ composition by time held, 19% of SHIB holders have held onto their tokens for more than a year, 77% have held within a year, while 3% have held onto their tokens for less than a month.
In late December 2021, U.Today reported that Shiba Inu owners were largely short- and medium-term owners, giving the percentage of each category at 14% and 86%, respectively. At that time, the percentage of long-term holders, or those who have held for more than a year, was nil.
Fast forward nearly six months, and the Shiba Inu population has shifted dramatically, with long-term owners (19%) outnumbering short-term owners (3 %). Meanwhile, mid-term holders have been reallocated, although they still account for 77% of Shiba Inu owners.
Shiba Inu course
Shiba Inu fell to a low of $0.0000073 on June 13, in line with recent declines in the crypto market. At press time, SHIB was trading up nearly 5% at $0.0000082.
Shiba Inu is facing buying pressure from whales, ranking among the top 10 most-purchased tokens for the 100 and 500 biggest ETH whales.
According to WhaleStats, ETH Whale “BlueWhale0073” has just purchased 356,078,908,730 SHIBs, worth $3,001,745. The number of Shiba Inu owners continues to rise, registering 1,179,343 at press time, according to data from WhaleStats.
