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Shiba Inu Red Alert: 80% of SHIB Holders Suffer Losses

Sun, 05/14/2023 - 12:00
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Gamza Khanzadaev
Shiba Inu (SHIB) holders may rethink as 80% of them suffer losses
Shiba Inu Red Alert: 80% of SHIB Holders Suffer Losses
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As it became known thanks to data from IntoTheBlock, most SHIB investors, an average of four out of five, are suffering losses on their holdings. If the data is to be believed, 80% of all Shiba Inu token address holders are "out of the money" right now. That equates to 991,440 addresses with 497 trillion tokens concentrated on them, which is equivalent to $4.4 billion. And that is minus the burned volume of SHIB on that "dead" address.

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At the moment the Shiba Inu token ranks sixth among the largest cryptocurrencies in terms of the ratio of loss-making addresses to profitable ones. To give you a clear example, with a market capitalization of $5.19 billion, only $668.4 million worth of SHIB is profitable to its holders.

It is noteworthy that many of those unprofitable addresses purchased the Shiba Inu token in the $0.000009 to $0.000014 price range. There are 348,170 such addresses, according to IntoTheBlock, and they hold an extremely solid volume of 281.12 trillion SHIB.

This attracts attention first of all because at these prices the Shiba Inu token was quoted quite recently, which may mean that their owners cannot be considered long-term holders for the time being.

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If SHIB quotes continue to decline as they have been doing for the last four weeks, a situation may arise where the last one to hold the token will be the loser. This certainly creates additional pressure on SHIB right now.

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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.