The market price of the meme currency has changed along with the profitability of owning Shiba Inu (SHIB). At the current value of about $0.0000069 per coin, just 9% of SHIB investors are in a lucrative position, according to statistics from analytics firm IntoTheBlock.
Ninety percent are predicted to be at a loss overall, with another 1% breaking even with neutral profitability.
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Shiba Inu’s value has decreased by 92% since October 2021, when it peaked at $0.00008616. This decrease has left some investors who purchased near-peak prices underwater on their investments. Simultaneously, individuals who purchased SHIB at a reduced cost could be reaping benefits.
Profitable Shiba Inu Investments: A Challenge for 91% of Holders,Profitable Shiba Inu Investments: A Challenge for 91% of Holders
The price volatility of Shiba Inus and the makeup of its holders seem to be important elements influencing each shareholder’s profits. The value of SHIB has fluctuated significantly amidst heavy trading activity.
According to IntoTheBlock’s estimation, the largest “whale” investors possess 78% of the circulating supply.
Burn rate of a Shiba Inu goes over 133%
The burn rate of Shiba Inu, which eliminates tokens from circulation forever, has been erratic lately. Shibburn data indicates that within the last day, there was a surge in burn rate of more than 133%.
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About 30.9 million SHIB were transferred to defunct wallet addresses during this time, taking them out of circulation. The price of SHIB has lately decreased despite the increase in burn rate. In the midst of the falling market, SHIB has dropped more than 3% during the past week.
Profitable Shiba Inu Investments: A Challenge for 91% of Holders,Profitable Shiba Inu Investments: A Challenge for 91% of Holders,Profitable Shiba Inu Investments: A Challenge for 91% of Holders