According to statistics from IntoTheBlock, 91% of Shiba Inu (SHIB) holders are now losing money on their investments.
Addresses that are making money (in the money), breaking even (at the money), or losing money (out of the money) on their holdings are categorised by the IOMAP supplied by IntoTheBlock. The important places where holders’ holdings are concentrated, generating buying and selling activity, are shown by this blockchain data.
According to this blockchain statistics, just 7% of Shiba Inu investors are profitable on their holdings at the current price of the cryptocurrency. 91% of all holders are either losing money on their investments or are out of the money. Meanwhile, 2% are “at the money” or are just breaking even.
The decline in the number of traders making money comes after the weekend’s sharp price declines for Shiba Inu and a few other cryptocurrencies.
As the whole cryptocurrency market responded to the filing of lawsuits against the two largest exchanges, Binance and Coinbase, Shiba Inu fell as much as 23%, reaching multi-month lows of $0.0000543.
SHIB has slightly recovered, but it is still substantially below its $0.0000858 opening price for this month.
Shib has gained 1.95% in the previous 24 hours and was now trading at $0.0000068. The cryptocurrency with a canine motif has fallen 92.23% from its all-time high of $0.000088.
Due to the bear market, a few tokens lost a sizable portion of their value during the last year, and SHIB was one of them. Additionally, this affected the low proportion of SHIB holders who are “in the money.”
In similar news, the Shiba Inu-themed burger restaurant Welly has announced plans for growth, including the opening of two more locations. Shytoshi Kusama, the leader of Shiba Inu, tweeted his satisfaction with the continuing preparations.
