Over half of the 1,399,974 wallets holding Shiba Inu are currently experiencing profits as SHIB rebounds to $0.00002652.
Shiba Inu has shown signs of recovery in the past 24 hours, managing to slightly overcome the bears and reclaim the $0.000026 threshold. Yesterday, Shiba Inu reached a low of $0.00002468 but has since risen significantly to $0.00002652. This represents a noticeable gain of 7.45% for SHIB.
During this week, Shiba Inu faced resistance while recovering from the significant dip it experienced two weeks ago. This resistance pushed SHIB back down to the $0.000024 threshold. However, it seems that the asset has successfully overcome this obstacle and reached $0.00002652 today.
At the current market value of Shiba Inu, data from the on-chain record shows that more than half of SHIB investors are holding the asset in a profitable position.
According to intelligence platform IntoTheBlock, 63% of SHIB holders are currently “in the money,” meaning they are making a profit with the asset valued at $0.000025. On the other hand, 32% of investors are facing losses with their Shiba Inu holdings. Only 5% of holders are considered “at the money,” neither gaining nor losing.
It is worth noting that the current profitability ratio of Shiba Inu holders has significantly decreased compared to six weeks ago. Last month, Crypto Basic reported that as much as 84% of SHIB holders were profitable. Remarkably, at that time, Shiba Inu was trading at $0.00004533, one of its highest points in two years.
Currently, 1,399,974 wallets hold Shiba Inu. Among these holders, 75% are long-term investors who have held the asset for over a year. Meanwhile, 21% of holders purchased SHIB within the last 12 months, and only 4% acquired it within the last 30 days.
Furthermore, data from IntoTheBlock indicates that large investors, or whales, dominate the Shiba Inu holder spectrum. Specifically, the data highlights that 73% of Shiba Inu is held by these larger investors.
In addition, the total value of whale transactions surpassing $100,000 over the past seven days is $732.41 million. According to IntoTheBlock, 201 such transactions were recorded on April 15.
However, this figure represents a significant decrease of $3.05 billion compared to the amount of whale transactions recorded on March 4. In percentage terms, whale transactions have plummeted by over 80.67% since last month as Shiba Inu experienced a dip.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. The views expressed in this article may reflect the author’s personal opinions and do not necessarily represent the opinion of The Crypto Basic. It is recommended that readers conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.