Market

Shiba Inu Profitability Rate Falls to 44%

After a 62% correction, the majority of Shiba Inu owners are now in the red.

Shiba Inu Profitability Rate Falls to 44%

According to the composition of holders who are now generating money by holding the asset, the famed Shiba Inu meme-token has officially lost its reign on the altcoin market by becoming a very unprofitable token. IntoTheBlock gave the data.

According to the study, 57 percent of Shiba Inu owners are not in profit, 52 percent are losing money, and 5 percent are breaking even. Only 44% of token holders profit from it, implying that their purchases were made at a lower price than the current one.

The recent cryptocurrency market sell-off, which resulted in a 15-20% decline in the value of major cryptocurrencies, is responsible for the rapid drop in profitability percentage. At the same time, Bitcoin has lost around 12% of its value.

Shiba Inu became immensely famous among cryptocurrency investors in early October after an unknown token had a mind-boggling 1,000% price spike on the market within days of trade.

Shiba Inu has begun a significant corrective phase after peaking at $0.00008, resulting in a 68% retracement at this point. The rapid value decline was triggered by the market being significantly overbought and a large number of short-term speculators eager to sell their assets after losing a little portion of their profits.

During the downturn, however, whales actively backed SHIB by purchasing massive amounts that are now valued more over $1.4 billion on the market. Some purchasing power remains on the market, but regrettably for investors, it is not having a substantial impact on the price.

At the time of writing, SHIB is trading at $0.000028, exactly where the famed 1,000 percent surge began in October.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

Coincu News

Victor

Recent Posts

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

1 minute ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

2 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

2 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

3 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

4 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

4 hours ago

This website uses cookies.