Most of the Shiba holders remain in profits despite the recent downturn in price as the coin remains one of the most popular meme coins on the market. In today’s altcoin news, we are taking a closer look at the price analysis.
Most of the Shiba holders are in profits while the number of holders crossed 1 million. The digital asset rallied to new highs a month ago which was the main catalyst for the increase in popularity. The downtrend followed fast behind the new all-time high but didn’t do much to discourage the investors from pouring their money into the dog-themed coin.
The data from IntoTheBlock shows that most of those that are invested in the coin is still in profit despite the dips that rocked the market in the past few weeks. A good number of SHIB holders was invested in the project before its bull run and as such, most were old holders that made money from their investments. There was no doubt from investors that got into the digital asset but those that are at loss with their SHIB investments are a small chunk compared to those that made profits. The data shows that 69% of the SHIB holders are in profits despite the coin losing about 50% of its all-time high value with 21% of the holders losing.
There are some in the middle that invested in the current price of the asset. IntoTheBlock reports that 10% of the SHIB investors are in the neutral zone which means these investors got their coins at the current value of the asset and 10% of the total investors or about 100,000 given the current holders number, are neither in profits nor losses. With the recent listing of Kraken, SHIB completed the list for being able to trade n other crypto exchanges on the market and the asset made the rounds on other exchanges as well. However, Shiba Inu is now only available for trading on Kraken.
It’s important to remember that about six months ago, Shiba Iu was not even on the radar of anyone, and the token recorded popularity because it claimed to be the “dogecoin Killer” but the activity in the asset was minor. Now, the meme coin grew to be one of the biggest cryptocurrencies by market cap and it is ranked at 12th spot on the list. For all investors that got in on crypto when it was unknown, the meme coin was a really profitable investment for them.
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