5.3 C
Manchester
December 5, 2022
Image default
Altcoin

Most Shiba Inu (SHIB) holders remain in profit

Shiba Inu remains one of the most popular dog-themed tokens on the market.

The popularity of the SHIB crypto is reflected in the number of holders of the digital asset, as the number has recently surpassed 1 million SHIB holders.

The digital asset had hit an all-time high (ATH) a month ago, which was the main catalyst for the rise in popularity. A downtrend quickly followed behind this new ATH, but it didn’t do much to discourage investors from putting money into it.

69% of Shiba Inu investors are in profit

The data of the IntoTheBlock show that most investors in the dog-themed currency are still in profit. This is despite the several falls that have shaken the market in recent weeks. A good number of Shiba Inu owners were invested in the project before he started his bull run. As such, most were former holders who made money from their investments.

No doubt there have been investors who have entered the digital asset, but those who are losing from their investments in SHIB are a small percentage compared to those who are making a profit. The data shows that 69% of all Shiba Inu holders are still making a profit, despite the digital asset losing about 50% of its historically high value, with only 21% of all holders making a loss.

IntoTheBlock informs that 10% of Shiba Inu’s total investors are in the neutral zone, which means that these investors received their coins at the current value of the asset. This means that 10% of all total investors, around 100,000 given the asset holder’s current count, are not in profit or loss.

SHIB wins top 10 cryptocurrency exchanges

With the recent listing of the digital asset on Kraken, Shiba Inu completed the list to be available for trading on all major cryptocurrency exchanges in the market. The asset quickly ran through the main Exchanges listed by CoinMarketCap, with Kraken being the only outlier for a while.

It’s important to remember that about six months ago, Shiba Inu was barely on anyone’s radar. The token registered popularity due to its self-styled “Dogecoin killer”, but activity on the asset was not noticeable.

Now, the dog-themed coin has grown to become one of the largest cryptocurrencies by market capitalization, currently ranked 13th on the list. For investors who got into cryptocurrency when it was relatively unknown, the meme currency was an incredibly profitable venture for them.

Source: Bitcoinist

Related posts

XRP scales above critical level as Ripple faces legal dispute

Anupreet Kaur

XRP holders accuse the SEC of contradiction over the alleged illegal sale of XRP

Anupreet Kaur

DogeCoin values ​​20% thanks to Elon Musk

Anupreet Kaur

Leave a Comment