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Is SHIB price going to zero? Over 1 million Shiba Inu holders in the red

Is SHIB price going to zero? Over 1 million Shiba Inu holders in the red

While most assets in the cryptocurrency sector continue to consolidate their gains and trade sideways, Shiba Inu (SHIB) is no exception, and the majority of its holders are out of profit at the dog meme digital currency’s price at present, tilting strongly toward the bearish sentiment.

Specifically, 84.85% or 1.06 million Shiba Inu addresses are “out of money” at the asset’s current price, whereas only 11.14% or 139,610 are in profit and 4% are breaking even, according to the recent data retrieved by Finbold from the crypto analytics platform IntoTheBlock on July 12.

Shiba Inu holders in/at/out of profit at current price. Source: IntoTheBlock

Further crunching the numbers, it seems that the largest portion of the holders in loss (411,390 addresses) have purchased Shiba Inu at prices between $0.000008 and $0.000014, which makes the average price of $0.00001 a major resistance level for SHIB.

At the same time, the largest share of holders at a profit (95,690 addresses) has bought the Shiba Inu asset at a price between $0.000000 and $0.000007, making the average price of $0.000005 the most important support level for the dog meme cryptocurrency at the moment.

All addresses currently holding Shiba Inu. Source: IntoTheBlock

Shiba Inu price analysis

Meanwhile, Shiba Inu was at press time changing hands at the price of $0.000007536, up 0.03% in the last 24 hours, as well as gaining 1.01% across the previous seven days and advancing 14.21% on its monthly chart, according to the recent data.

Shiba Inu 24-hour price chart. Source: Finbold

Although things look bleak for most SHIB holders at the moment, the reality of this industry is that things could change for the better (or worse), depending not just on the developments surrounding the asset, like the upcoming Shibarium update, but also on the general atmosphere in the crypto market.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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