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Jaw-Dropping 74% of Shiba Inu (SHIB) Holders Suffer Losses Amid Shibarium Outage

Thu, 08/24/2023 - 15:24
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Gamza Khanzadaev
Almost one million SHIB holders remain trapped in losses, while Shibarium fails to successfully launch
Jaw-Dropping 74% of Shiba Inu (SHIB) Holders Suffer Losses Amid Shibarium Outage
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In a dramatic revelation, data from renowned crypto analytics platform IntoTheBlock has underscored a concerning trend among Shiba Inu (SHIB) investors. A staggering 74% of SHIB holder addresses find themselves entrenched in a sea of losses, mirroring the tumultuous trajectory of the digital token.

Shiba Inu Token BONE Booming 1,000% On-Chain Amid New Shibarium Update

With an impressive total of 951,320 addresses firmly in the red, the gravity of the situation cannot be ignored. The deepening dip in SHIB's value has left a massive accumulation of 859.44 trillion Shiba Inu tokens marooned in these unprofitable addresses.

Source: IntoTheBlock

The disheartening statistics further reveal that the majority of those affected, approximately 268,720 addresses, made their foray into SHIB at prices ranging from $0.000009 to $0.000014. This is in stark contrast to the current trading value of $0.0000083 per token, indicating the extent of the financial setback.

Only a mere 15.83% of SHIB holders find themselves in profitable territory, with an additional 9.83% clinging precariously to the break-even point. This ratio catapults the Shiba Inu token into the ranks of the top 10 digital assets in terms of anti-profitability.

Shibarium slip

Adding to the turmoil, the much-anticipated launch of the Shibarium Layer 2 protocol took an unexpected nosedive. Shortly after its debut, the ambitious project was abruptly halted for repairs, casting a shadow over what was supposed to be a landmark moment in Shiba Inu's history.

SHIB Team Member Reveals Exciting Update as Shibarium Plans Relaunch

Key influencers in the SHIB community have attempted to mollify the situation by reassuring users that Shibarium is operational in private mode and on the brink of a relaunch. Despite their efforts, the protocol's page remains inaccessible, emblazoned with an unequivocal message: "INTAKES ARE CLOSED."

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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.