Majority of Shiba Inu Holders Are in Profit Despite Deep Correction From All-Time High: Crypto Insights Firm IntoTheBlock

Majority of Shiba Inu Holders Are in Profit Despite Deep Correction From All-Time High: Crypto Insights Firm IntoTheBlock


Crypto intelligence platform IntoTheBlock reveals that a big percentage of Shiba Inu (SHIB) holders are still in green territory despite the meme coin’s deep pullback from its all-time high.

To determine which holders were currently in profit, IntoTheBlock looked at addresses with a Shiba Inu balance, identified the average cost at which the tokens were purchased, and compared them to the current price of the dog-themed crypto asset.

If the current price is greater than the average cost, then the holder is categorized as “in the money.” Similarly, if the average cost is less than the current price, then the address is listed as “out of the money.”

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According to the crypto analytics firm, 71% of SHIB holders are making money at the coin’s current

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