According to statistics provided by IntoTheBlock, as of September 2023, a mere 12% of Shiba Inu holders are currently reaping profits. The vast majority of SHIB holders find themselves grappling with significant losses, leaving their portfolios in a state of negative equity. The data indicates that approximately 77% of holders are in the red, while only 11% of investors have managed to maintain a balance between gains and losses in their investments. To put it into perspective, out of the numerous Shiba Inu investors, around 154,000 addresses have seen their investments turn profitable, while nearly 1 million are facing financial losses. Additionally, roughly 140,000 addresses find themselves at the break-even point.
Shiba Inu Suffers Ongoing Losses Post Shibarium Launch
The majority of investors entered the market after Shiba Inu had already reached its peak of $0.00008616 in October 2021. Since then, this token with a dog theme has experienced a prolonged decline in value, failing to make any significant recovery over the past two years. If Shibarium cannot consistently boost SHIB’s price on the charts, early investors may find themselves needing to hold onto their investments for an extended period. This situation serves as a stark reminder for those investors who had high hopes that SHIB could eventually reach the $0.01 mark, potentially turning them into millionaires overnight. In 2023, SHIB appears to have more downside potential than upside, testing the patience of its investors.
Even with the much-anticipated launch of Shibarium, the token’s price has struggled to gain momentum. The only glimmer of hope for SHIB to see a significant price increase is if Shibarium manages to burn trillions of tokens. However, if this layer-2 solution fails to achieve this token burn on an annual basis, it could take many years, possibly even decades, for SHIB to even approach the $0.01 mark.
At the time of this publication, Shiba Inu was trading at $0.00000772, reflecting a 1.2% decrease compared to the previous day’s trading. Furthermore, SHIB has seen a substantial drop of 91% from its all-time high of $0.00008616, which it reached back in October 2021.