Shiba Inu is currently trading at $0.000008929 and is down nearly 1% in the day’s trade. SHIB has been on a downward trend for more than a year lately making investors lose a lot of money. The dog-themed token is no longer the once ‘golden egg’ laying hen that made early investors turn millionaires. It has now turned from a profit-making machine to a loss-generating token since early 2022. The token is no longer attractive to the average investor despite its price being under the 1-Cent mark.
Also Read: Shiba Inu (SHIB): Man Makes $5.7 Billion in 400 Days
In this article, we will highlight the latest data on how many Shiba Inu investors are facing losses currently. The data gives insights about investors’ portfolios and how many holders are enjoying profits vs losses.
Shiba Inu: How Many SHIB Holders Are Suffering From Losses and Enjoying Profits?
The latest data from IntoTheBlock shows that 65% of Shiba Inu holders are currently underwater and experiencing losses. Only 29% of investors are enjoying profits in the dog-themed cryptocurrency. However, just 6% of Shiba Inu holders are currently breaking even with no profits or losses.
Also Read: Shiba Inu: $9 Can Make You a SHIB Millionaire in February 2024
Therefore, the majority of SHIB holders are currently under loss with only a few in profits. Just a handful of them are breaking even and the prospects don’t seem bright. In addition, around 78% of SHIB’s wealth is concentrated with a handful of investors.
The development is alarming as it poses a risk of large sell-offs that could lead to dramatic price slumps. The move could create large ripple effects that could trigger another round of sell-offs leading to a domino effect.
Also Read: Shiba Inu: $905 Investment Could Turn $1 Million if SHIB Hits $0.01
At press time, SHIB was trading at $0.000008929 and is down close to 1% in the 24-hour day trade. SHIB is also down nearly 90% from its all-time high of $0.00008616, which it reached in October 2021.
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