Majority of Shiba Inu Holders Now Nursing Losses Amid SHIB’s Sustained Downtrend, According to Insights Firm IntoTheBlock

Majority of Shiba Inu Holders Now Nursing Losses Amid SHIB’s Sustained Downtrend, According to Insights Firm IntoTheBlock


Only a minority of Shiba Inu (SHIB) holders are currently in profit as the meme coin rests nearly 70% off its all-time high, according to cryptocurrency analytics platform IntoTheBlock.

To determine which holders are currently nursing losses, IntotheBlock looked at wallets with a Shiba Inu balance, identified the average purchase amount of the coins, and compared the figure to the current price of the Dogecoin (DOGE) competitor.

A holder is underwater or “out of the money” if the average purchase amount is greater than the current price. On the other hand, an investor is listed as “in the money” or in profits if the average cost is less than that current price.

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When the average cost is the same as the current price, then the

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