123 Trillion Shiba Inu (SHIB) Tokens Remain Profitable Despite Market Slowdown

Shiba Inu (SHIB), a widely recognized meme cryptocurrency, has faced bearish market conditions over the past month, struggling to gain significant upward momentum. However, data from blockchain analytics firm IntoTheBlock reveals that approximately 123.27 trillion SHIB tokens remain in profit, representing 36.95% of the total circulating supply.

SHIB Maintains Market Resilience Amid Declining Trading Volume

Despite recent price struggles, SHIB holders continue to maintain their positions. The total value of tokens that remain profitable stands at approximately $1.54 billion. Analysts view this as an indication that the asset has sustained investor confidence despite broader market uncertainties.

At the time of reporting, the token is trading at $0.00001288, reflecting a 2.62% increase in the past 24 hours. Trading activity has also weakened, with daily trading volume dropping by 20.24% to approximately $109.87 million. This slowdown suggests that investors are exercising caution, potentially waiting for more favorable market conditions before increasing their holdings.

Meanwhile, on-chain data indicates that a substantial portion of SHIB tokens is currently at a loss. About 827.32 trillion SHIB, equivalent to 59.13% of the total circulating supply, is categorized as “out of the money,” meaning these tokens were purchased at a higher price than their current market value. The estimated worth of these holdings stands at approximately $10.34 billion.

Additionally, 33.97 trillion SHIB, representing 3.92% of the total supply, is categorized as “at the money,” meaning these tokens are trading near their initial purchase price. The estimated value of these holdings is around $424.49 million.

Effect of Token Burns and Whale Accumulation

SHIB has found strong support at the $0.000012 level over the past week, potentially due to the community’s ongoing token burn initiatives. The asset initially surged 495% within 24 hours with over 14 million tokens permanently removed from circulation. This reduction in supply could contribute to upward price pressure in the long run if demand remains steady.

Investor sentiment surrounding SHIB may also be influenced by recent whale activity. A previously inactive Ethereum whale recently acquired over 64 billion SHIB tokens, signaling renewed interest from large-scale investors. Historically, whale purchases have been viewed as a bullish indicator, as they suggest confidence in an asset’s future price appreciation.

Furthermore, the token’s growing adoption within the crypto ecosystem continues to gain attention. The Shiba Inu blockchain recently surpassed 1.5 million total holders, highlighting sustained investor participation and potential long-term support for the asset. Analysts suggest that if adoption trends continue to strengthen, SHIB may experience a price rebound in the coming weeks.

While the asset’s price performance has remained subdued, a significant portion of its circulating supply remains profitable, indicating resilience among holders. Despite the declining trading volume and prevailing bearish conditions, ongoing token burns and increased accumulation by large investors could set the stage for a potential price recovery. 

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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