$SHIB is now unprofitable for 57% of its holders
Inu holders are not in profit, with 52% holding at a loss and 5% breaking even. Only 44% of token holders are profiting with it, which means that their entries were below the current price.The swift drop in the profitability percentage is tied to the most recent cryptocurrency market sell-off that led to a 15-20% drop in the value of most altcoins. Bitcoin, at the same time, has lost approximately 12% of its value.
After topping out at $0.00008, Shiba Inu has entered a strong correction phase that has resulted in a 68% retrace at this point. The swift value drop was caused by an extremely high overbought condition on the market and a high number of short-term speculators who were willing to drop their holdings after losing a small part of their gains.But during the plunge down, whales actively supported SHIB by buying out enormous volumes that are currently worth more than $1.4 billion on the market.
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