The volatility in the broader digital currency ecosystem has set a course correction for Shiba Inu, with more than 87% of SHIB addresses running at a loss.
The cryptocurrency market has jumped by 5.48% over the past 24 hours. This follows President Donald Trump’s decision to pause the U.S. trade tariff for 90 days. The impact has hit major assets, as most witnessed a rebound, including Shiba Inu (SHIB).
Most Shiba Inu Investors In Distress
This marks a notable shift in price outlook for the dog-themed memecoin, whose price crashed to a multi-month low of $0.00001031 in the last seven days. The nose-diving was largely worsened as the trade tariff war hit the digital asset market space.
According to CoinMarketCap data, SHIB has recorded a significant 8.61% increase in price within the last 24 hours. The memecoin now changes hands at $0.00001196. Its trading volume has also spiked by 16.19% to $319.07 million.
Despite these bullish developments, only 10.40% of SHIB investors are holding it in profit. As per IntoTheBlock data, this represents 482,970 addresses.
These small fraction of investors are currently “in the money” as they bought SHIB at an average cost below its current market price. This indicates how low SHIB’s performance has become in the crypto space.
Notably, these 10% of investors control 102.43 trillion SHIB tokens, valued at approximately $122 billion.
Most SHIB investors are losing because they are “out of the money.” 898,230 addresses, representing 87.02% of the total, are in this category. These addresses purchased 857.13 trillion SHIB at a price higher than the current market value.
Can Upcoming Upgrade Reverse Losses?
Meanwhile, 2.58% of Shiba Inu’s on-chain wallet, or 63,680 addresses, are currently “at the money.” These addresses that are neither making a profit nor loss control a total of 25.42 trillion SHIB valued at $304.53 million.
Despite these concerning statistics, investors are still actively engaging the token, as indicated by the double-digit growth in trading volume.
Lucie’s update about an upcoming upgrade in the SHIB ecosystem will likely pique these market participants’ interest.
Lucie, the ecosystem’s Marketing Lead, stated that despite the gloomy market outlook, a lot of work was ongoing behind the scenes that would soon be rolled out.
It remains interesting to watch how this upgrade would pull more investors out of a loss in the market. Many investors are still hopeful that SHIB could soar to $0.000081, as predicted by Javon Marks.
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