It has not been an easy ride for Shiba Inu (SHIB) holders in the last few weeks, with the token accumulating meaningful losses, leaving 82% of its investors in the red — holding assets with an average cost in dollars, higher than current prices for SHIB in the spot market.
According to data retrieved by Finbold from the IntoTheBlock research platform, only 11% of all Shiba Inu holders are carrying a profitable wallet. 7% are even with their purchases, while 82% are sitting on unrealized losses.
Moreover, 77% of the entire circulating supply for Shiba Inu is in the hands of investors and whales holding at least 0.1% of the available tokens.
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On the bright side, a similar amount of addresses (70%) is composed of long-term holders, carrying their SHIB ‘bags’ for over a year. 27% are holding between one and twelve months, while only 3% have acquired the token in less than a month.
A bearish sentiment dominates SHIB holders
Still according to data gathered from IntoTheBlock, the dominant sentiment among the ShibArmy is ‘mostly bearish’. With 3 bearish signs, versus 2 neutral and 1 bullish sign.
Notably, the three bearish signs are:
- Net Network Growth (0.27%);
- In the Money (-3,04%);
- Large Transactions (-9,83%).
While there is a growing volume in bid orders for SHIB in centralized exchanges, which is bullish.
SHIB price analysis
At the time of publication, SHIB is being traded at $0.000008, with neutral results for the day (+0.33%).
Meanwhile, Shiba Inu has constantly lost market cap ranks in the CoinMarketCap index, positioned as the 16th most valuable crypto in the market, with 18% accumulated losses in one month, and over 5% losses in one week.
With the successful restart of Shibarium, Shytoshi Kusama, a leading contributor to the Shiba Inu ecosystem, has stressed the critical importance of increasing the adoption of the meme coin, if the community wants to succeed.
