Despite Shiba Inu’s devastating collapse over the past few months, nearly half of all blockchain addresses holding SHIB are currently in profit.
Shiba Inu (SHIB) investors are feeling the heat of the market downturn as the token continues its bearish performance.
SHIB has plunged to the $0.000016 level despite showing signs of recovery over the weekend. At the current exchange rate of $0.0000165, SHIB has registered a decline of 1.15% in 24 hours, 3.48% in seven days, and 28.71% in the past month.
Addresses Making Money at Current Price
Contrary to expectations amid the recent downturn, many Shiba Inu addresses are still profitable, surpassing those holding the asset at a loss.
Data from IntoTheBlock (ITB) shows that 49% of all 1,396,038 (1.39 million) Shiba Inu addresses are currently in profit or making money at the current price.
Most of these addresses bought SHIB at an average price of $0.000010. Specifically, 369,240 addresses acquired 155.87 trillion SHIB at this level. The 155.87 trillion SHIB tokens are worth $2.57 billion at press time.
Similarly, another 215,610 addresses scooped 68.25 trillion SHIB ($1.12 billion) at an average price of $0.000007.
Conversely, 48% of addresses currently holding SHIB are “out of the money” or at a loss, with the token priced at $0.0000165. At this price, only 4% of all Shiba Inu addresses are currently at break even at the current price, suggesting that they are neither making money nor losing.
Shiba Inu’s profitability ratio has declined heavily from the figure recorded in April, which put the number of addresses in profit at 63%. At the time, SHIB was priced at $0.00002652 per token.
SHIB Holdings By Time Held
Furthermore, ITB’s data also provided insights into the duration at which investors have been holding on to SHIB. According to the data, 77% of all Shiba Inu addresses are categorized as ‘holders,’ given that they have been holding SHIB for over a year.
In addition, 21% of all addresses are tagged as “cruisers” for holding SHIB between 1 and 12 months, while 2% are holding for less than 30 days.
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