As per the profitability analysis of IntoTheBlock’s active addresses, 36.75 trillion Shiba Inu holdings are now trading at a profit.
Based on whether addresses are making money (in the money), breaking even (at the money), or losing money (out of the money) on their positions at the current price, IntoTheBlock categorises addresses.
As of this writing, SHIB was up 1.12% to $0.00000828 over the previous day. Over the past week, the token has increased by 6.06%.
As indicated by the indicator, 1,710 addresses purchased a volume of 36.75 trillion SHIB at the current price of around $0.000008. The number of Shiba Inus purchased may indicate that the price is progressively forming a significant level of support around $0.000008.
This is due to SHIB’s goal of matching pricing action to its recent network growth. The official Shiba Inu Twitter account announces that the SHIB community is expanding rapidly in a recent tweet.
This coincides with the number of addresses holding SHIB reaching a new all-time high, up a whopping 22% over the last week. In addition, Shibarium consistently establishes new benchmarks.
Shibarium sees impressive activity, as does SHIB’s price
Over 34.6 million transactions from 17 million wallets have occurred on Shibarium in the last few months, demonstrating the network’s great demand. Later this month, the network is scheduled to start.
The cost of Shiba Inus has been rising gradually without any significant shock. Should it go on, SHIB might try to remove a zero from its price, with the $0.00001 mark as its next objective.
Around $0.000008, the current range looks to be building support. This might stop further drops and act as a catalyst for the SHIB price to increase in the upcoming days.
