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88% of Shiba Coin Investors Unhappy! The Latest on Shiba Inu (SHIB) Unveiled!

  • Approximately 88% of Shiba Coin investors are either at a loss or on the verge of it.
  • The 77% who are at a net loss could potentially trigger rapid sell-offs in the event of negative news flow.
  • Shiba Coin’s price could drop to $0.0000065 if it closes below $0.00000768.

The article discusses the current state of Shiba Coin, the second-largest meme coin by market value. Despite its significant strides, including the unique achievement of building its own ecosystem, the short-term outlook is not promising, with a majority of investors currently at a loss.

Shiba Coin Investors

shiba inu shib

At the current price, 88% of Shiba Coin investors are either not making a profit or are at a loss, with the latter constituting 77%. For 11% of investors, the current price presents an opportunity to sell and break even. If the news flow continues to be unfavorable, this group may be willing to part with their holdings to buy at a lower price.

There has also been a decrease of approximately 9.5% to 9.7% in the number of new, active, and SHIB balance-less addresses in the past week. The overall expansion of Shiba Inu addresses within the SHIB network is showing signs of stagnation, with the average number of addresses holding SHIB tokens remaining around 1.24 million for several months.

There is also a notable decline in participant numbers in Shiba Coin’s Telegram channel, confirming that sentiment is in the negative zone.

Shiba Coin Analysis

Shiba-Inu-SHIB-1068x601

There are interesting details in the distribution of Shiba Coin supply. Approximately 41.77% of the total supply is held in inactive addresses and is therefore out of circulation. This dynamic significantly affects the investor group table. About 48 large investors hold 25% of the supply. Meanwhile, ten whales control almost a third of the supply, while small investors command almost 40% of the total distribution.

“Whales” here refer to addresses that hold more than 1% of the total token supply. Large investors have a ratio between 0.1% and 1%, while individual investors have less than 0.1%.

Shiba Coin Price

shiba inu shib

Shiba Coin’s price has continued to remain in a narrow range since the week of June 5. The price is falling below the middle region, which means that the base line of $0.0000065 could be tested. Investors may benefit from being more cautious if the price closes below $0.00000768.

Conclusion

The information in this article does not constitute investment advice. Investors should be aware of the high volatility and thus the risk associated with cryptocurrencies, and should conduct their own research before making transactions.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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