As a seasoned researcher with years of experience in the cryptocurrency market, I have seen my fair share of price volatility and the emotional rollercoaster that comes with it. The recent Shiba Inu price action is no exception to this pattern.
Over the last week, the price of Shiba Inu has experienced both rises and falls. Specifically, the meme token surged from $0.00001660 to $0.00001996 within a span of three days, only to plummet back to $0.00001770 over the following three days. This unpredictable price trend has led to varying levels of profitability for many Shiba Inu wallets. Some investors initially profited, but the subsequent fall pushed several of them back into a losing position.
Based on analysis by the on-chain platform, IntoTheBlock, roughly 44% of Shiba Inu investors are currently experiencing a decrease in their investment due to the recent price drop.
Fluctuating Shiba Inu Profitability Count
Data analyzed through the analytics platform, IntoTheBlock, indicates that the recent drop in price has significantly affected the profitability of Shiba Inu holders’ wallets.
To begin the week, the price of Shiba Inu showed an upward trend. More specifically, from its low of $0.00001660 on October 26, the Shiba Inu price surged along with the broader crypto market, peaking at $0.00001996 on October 29. This impressive 20% rise over just three days left many investors in awe and sparked optimism for continued growth.
Additionally, as prices increased, over 30,000 Shiba Inu wallets moved into a profitable position, as reported by the “In/Out of the Money” indicator from IntoTheBlock. This tool tracks the number and proportion of wallets that are in profit, at a loss, or break-even, based on the value of the cryptocurrency asset.
Initially, I found myself feeling rather optimistic as the price surged to $0.00001996 on October 29. However, my elation was short-lived when the price took an unexpected turn and dipped to $0.00001770 by November 1, marking a significant drop of approximately 11%. This decline, unfortunately, resulted in around 25,000 holders finding themselves in the red, as per the ITB “In/Out of the Money” metric.
Current Shiba Inu Profitability
Currently, as I type this, the price of Shiba Inu has successfully risen above a crucial support level at $0.00001770. At the moment, Shiba Inu is being traded at $0.00001781, marking an increase of 3.2% over the past 24 hours.
Approximately 52.5% of all Shiba Inu (SHIB) addresses currently have a profit, as indicated by data from IntoTheBlock. Conversely, nearly 44.62% of these addresses show a loss, while around 2.87% are neither in profits nor losses, making up the “at the money” category. This leaves about 52.5% + 44.62% + 2.87% = 99.99% of all Shiba Inu addresses accounted for, with the remaining 0.01% presumably not active or untrackable.
It appears that a significant number of investors have made a profit due to the present price level. As reported by IntoTheBlock, approximately 83,470 investors who purchased Bitcoin between $0.000015 and $0.000020 are currently seeing returns on their investment.
Approximately 60% of the addresses purchased Shib when it was within this price range. Conversely, about 39.32% of these same addresses currently find themselves in a loss position. Lastly, there are 931 addresses (which amounts to 0.67%) that bought Shib between $0.000015 and $0.000020, with their current holdings being at or near the price they initially paid (at the money).
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2024-11-03 08:11