Crypto tracking and forecasting platform InTheBlock, memecoin Shiba Inu (SHIB) stated that the majority of its owners are still making profits despite the major pullback in SHIB.
The firm looked at wallet addresses holding SHIB to determine how many investors are currently making a profit, the firm first determined the ‘average cost’ at which tokens were purchased, and that price, current SHIB Compared to price.
SHIB holders are considered ‘in profit’ if the current price is higher than average costs. Similarly, investors are considered ‘at a loss’ if the average cost is less than the current price.
According to InTheBlock, an average of 71% of SHIB owners can make a profit even at the current price of $0.000053. 17% of investors are currently at a loss, while 12% are at a level to recover their costs.
The company also shared a note on the general situation of existing investors. According to the company, 78% of Shiba Inu owners can be considered ‘whales’. So they own more than 1% of SHIB’s circulating supply.
The firm also stated that 64% of addresses have held SHIB tokens for between 1-12 months, and 36% for less than a month. It could not be determined that any address held SHIB for more than 12 months.
SHIB 0.000089 dollardown nearly 40% from its highest level in 0.000053 dollarstraded from.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.