Over the past week, the cryptocurrency market has exhibited a relatively stable performance, maintaining its market capitalization above the $1 trillion mark. This stability may be interpreted as a positive signal as the market readies itself for its next significant movement. However, the outlook is not as optimistic for certain cryptocurrencies, such as Shiba Inu (SHIB).
In the preceding 20 days, the percentage of Shiba Inu investors finding themselves in an unprofitable position has risen. Initially, 82% of SHIB holders were experiencing losses, but this figure has now escalated to 88% of wallet addresses being “out of the money.”
This data, obtained from the IntoTheBlock app and reported by Finbold on September 27, takes into account the price of Shiba Inu tokens at the time they were received by each crypto wallet address, in contrast to their current values in the spot market.
According to the app’s analysis, a mere 9% of all SHIB investors currently hold a profitable position, while just 3% acquired their tokens at the same price level of $0.000007 at the time of this publication.