41% of Shiba Inu (SHIB) investors are now profitable at the current price levels, according data from IntoTheBlock. Along with favourable changes in on-chain signals—large transactions growing by 3.10% and net network expansion rising by 0.29%—the data also points to a bullish trend for SHIB.
The price of SHIB is currently $0.00001084, up 2.67% over the previous day and an astounding 33.99% over the last 30 days as of the writing of this article. With $238.91 million in trading volume, SHIB has had a noteworthy 9.24% increase in the last day.
Shiba Inu’s positive momentum
Shiba Inu aficionados are relieved to see this upward trend, because the bitcoin market has seen significant volatility recently. The rise in significant transactions and expansion of the net network indicates an increasing level of investor trust, which bolsters the positive prognosis for SHIB.
A related aspect is that the Shiba Inu team’s official marketing manager, Lucie, has lately made a statement that contributes to the great vibe around SHIB. According to U.Today, Lucie disclosed that this month, a substantial portion of Shiba Inu tokens—a total of 8,471,583,707 SHIB, worth at $90,857—were moved to unspendable wallets.
This calculated decision to store a sizable amount of SHIB tokens in unspendable wallets is thought to be an attempt to lower the amount in circulation, which might raise the token’s value. The Shiba Inu team is still working on projects to improve SHIB’s overall sustainability and market dynamics.
Due to the optimistic on-chain signals and calculated token movements that are creating a more favourable climate for Shiba Inu, investors and experts are eagerly watching these developments. The community is still interested in learning how these variables may affect SHIB’s future course in the constantly changing cryptocurrency market.
