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1 Million Shiba Inu (SHIB) Addresses Officially Suffer Losses

Sun, 05/28/2023 - 13:28
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Gamza Khanzadaev
Number of SHIB addresses who suffer losses now stands at six figures
1 Million Shiba Inu (SHIB) Addresses Officially Suffer Losses
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Recent data from IntoTheBlock has revealed a distressing trend among Shiba Inu token holders, with the number of individuals experiencing losses reaching six figures. Currently, this figure represents a staggering 79.86% of all addresses associated with the token. These addresses collectively house an astounding 887.86 trillion SHIB, which amounts to a value of $7.75 billion and makes up 90.31% of the total Shiba Inu token supply.

Billions of SHIB Burned Within Past 7 Days As Shiba Inu Price Attempts to Recover

However, it is crucial to note that 410.35 trillion SHIB are stored in a "dead" address, intended for burning. This means that a substantial portion of the token supply is effectively rendered unusable. Of the 1 million addresses incurring losses, more than a third are attributed to individuals who purchased SHIB within the price range of $0.000009 to $0.000014. These unfortunate investors amount to 363,670 wallets, collectively holding 262.88 billion Shiba Inu tokens.

In contrast, there are currently 210,300 addresses remaining that collectively hold 66 trillion SHIB tokens. This represents 16.72% of the total number of addresses and 6.71% of the overall Shiba Inu token supply. While this indicates that some holders have managed to avoid significant losses, the majority of investors have been adversely affected by the recent market conditions.

Shiba Inu Addresses Skyrocket: Ripple Effect on SHIB Price Revealed

Against this backdrop, it is interesting to note the recent surge in new Shiba Inu addresses. On May 26, as reported by U.Today, there were 2,538 new SHIB addresses created, marking the highest number seen in the past three months. This influx of fresh addresses suggests ongoing interest in the cryptocurrency despite the prevalent losses experienced by many investors.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.