Almost Half of Shiba Inu (SHIB) Holders Are Not in Profit

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As a seasoned crypto investor with a knack for spotting trends and navigating market turbulence, I must admit that the current state of Shiba Inu (SHIB) has me slightly concerned. With over half of its investors losing money and whale activity on the decline, it’s clear that the winds of fortune have shifted for SHIB.

Based on blockchain data, it appears that more than half (about 43%) of Shiba Inu investors are experiencing losses during this challenging phase. Conversely, only slightly over half (approximately 53%) of SHIB holders are currently in a profitable position or have made a profit with their investment, according to the latest profitability statistics.

Concerns regarding the asset’s trajectory and market dynamics are not random, as profitability is one of the main reflections of the situation on the market. The on-chain signals from SHIB also present a negative outlook. The number of large transactions has decreased by 60.9% over the last seven days, according to metrics like net network growth. Given that whales and institutions are typically the main drivers of bullish price movements, this decline points to a decline in their activity. 

Furthermore, the asset remains susceptible to significant price fluctuations due to a high degree of ownership by dominant players, with around 73% of holdings in their control. As shown in the market graph, SHIB has experienced a significant drop from its past peaks and is currently hovering near the 100 Exponential Moving Average (EMA), a critical support line. If this level is breached, further losses may ensue, potentially leading to a challenge of the black 200 EMA. On the upside, $0.000023 remains an important resistance level.

A jump above the current level could spark renewed optimism among bulls, yet considering market conditions, it may not occur immediately. The decrease in network growth, signifying fewer new wallet activations, is troubling. This trend points to low interest from new investors, which is crucial for sustaining upward momentum in a volatile market like SHIB. Furthermore, there’s a slight dip in the Telegram community statistics, suggesting a decline in community excitement and involvement.

To regain momentum, Shib needs a change in investor attitude. This could show up as increased whale trading, rapid network growth, or breaking through crucial resistance points. For those holding onto SHIB, it’s wise to maintain a measured optimism until that happens. In the immediate future, the price zones at $0.000020 and $0.000023 could significantly impact Shib’s trajectory, so keep an eye on these levels.

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2024-12-23 15:25