The crypto market has been on a rollercoaster lately, and Shiba Inu (SHIB) hasn’t been spared. The price of SHIB has taken a tumble, leaving many holders wondering if they’re in the red.
More SHIB Holders in Losses Than Profits
According to data from IntoTheBlock, a larger percentage of SHIB holders are now in losses than those who are still in profit. This means that more people bought SHIB at a higher price than the current market price.
The data shows that over 51% of SHIB holders are currently experiencing losses, compared to just under 47% who are still in profit. This is a significant shift, and it highlights the impact of the recent price drop on SHIB holders.
Recent Buyers Hit Hardest
The situation is even worse for those who bought SHIB recently. Over 60% of holders who bought SHIB between $0.000012 and $0.000017 are now in the red. This means that a large chunk of recent buyers are experiencing losses.
What’s Next for SHIB?
The crypto market is in a bit of a holding pattern right now, with Bitcoin struggling to break out of its current range. This uncertainty is making it tough for many investors, including those holding SHIB.
Despite the challenges, many SHIB holders are still optimistic about the future of the meme coin. They believe that SHIB will eventually surge in price, and they’re focused on the long-term development of the Shiba Inu ecosystem.
It’s important to remember that the crypto market is volatile, and prices can fluctuate rapidly. If you’re holding SHIB, it’s crucial to stay informed about the latest market developments and to make investment decisions based on your own risk tolerance.
