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1 Million Shiba Inu (SHIB) Addresses Are in Losses: Data

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Thu, 25/05/2023 - 14:56
1 Million Shiba Inu (SHIB) Addresses Are in Losses: Data
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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.

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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. 

IntoTheBlock
Break Even Price Indicator, Courtesy: IntoTheBlock

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.

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SHIB Large Holder Volumes Jump 124% with Surprising Growth in User Base

This 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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