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Based on IntoTheBlock's "Break Even Price" indicator, one million Shiba Inu addresses might currently be in losses on their SHIB holdings.
The Break Even Price indicator looks at realized gains and losses based on on-chain data for addresses that are currently holding the crypto-asset, Shiba Inu, in this context. This indicator provides an aggregate of holders' realized gains and losses for SHIB.
In the image, the green clusters represent addresses that have realized gains, while the red clusters symbolize addresses with realized losses.
At the current Shiba Inu price of $0.000008, 219,880 addresses, or 17.51%, have realized gains or are in profit. One million SHIB addresses, or 79.74%, are in losses. Meanwhile, 34,600 addresses, or 2.76%, are at break-even. This implies they are neither in losses nor profits.
For over half of these addresses that have realized losses, the price would have to increase between the $0.000009 and $0.000026 price range for these holders to break even on their positions.
This is because 529,450 addresses bought 666.09 trillion SHIB in the range of $0.000009 and $0.000026 at an average price of $0.000014, per IntoTheBlock data.
Another large cluster is in the $0.000026 to $0.000049 range, where 280,170 addresses bought 101.87 trillion SHIB.
69% of SHIB holders are in it for long term
At the time of writing, SHIB was down 2.11% in the last 24 hours to $0.0000084. The current number of Shiba Inu owners, according to WhaleStats data, is 1,305,808.
Out of this number, 69% are long-term holders who have held onto their SHIB tokens for more than a year. Twenty-eight percent have held for one to 12 months, while 2% have held for less than a month.
Tomiwabold OlajideThis suggests "hodling" by Shiba Inu investors despite the price declines seen for Shiba Inu. The past year saw crypto prices drastically decline as a result of macroeconomic uncertainty as well as industry failures.
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