Token

Cryptocurrency

Shiba Inu

<div class="finbold"> 
 <p class="paragraph">In the last 7 days, the cryptocurrency market managed to remain relatively stagnant and sustain its market capitalization above $1 trillion, which could be seen as a positive sign as the market prepares for the next move. However, not many positive outcomes are in sight for some of the crypto assets, such as Shiba Inu (SHIB).</p> 
 <div></div>
 <p class="paragraph">The number of Shiba Inu’s <a rel="dofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> that are <a rel="dofollow" title="holding" href="https://thebittimes.com/tag/holding.html">holding</a> a <a rel="dofollow" title="losing" href="https://thebittimes.com/tag/losing.html">losing</a> <a rel="dofollow" title="position" href="https://thebittimes.com/tag/position.html">position</a> has increased in the last 20 days. Going from 82% of SHIB holders in the red, to 88% of addresses “out of the money”.</p> 
 <p class="paragraph">This is what data retrieved by Finbold on September 27 from the <em>IntoTheBlock</em> app reveals, while considering the Shiba Inu token’s price at the time each crypto wallet address received it, in comparison to current prices in the spot market.</p> 
 <p class="paragraph">According to the app, only 9% of all SHIB investors are holding a profitable position, while 3% acquired their tokens in the same price zone of $0.000007, by the time of publication.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="436" src="https://cdn.thebittimes.com/images/2023/09/27/d2a1b8ee5b0a186cecc3658b412d6220.webp" alt="Token summary stats for SHIB holders." class="wp-image-130255" srcset="https://cdn.thebittimes.com/images/2023/09/27/d2a1b8ee5b0a186cecc3658b412d6220.webp 1024w, https://cdn.thebittimes.com/images/2023/09/27/d2a1b8ee5b0a186cecc3658b412d6220.webp 300w, https://cdn.thebittimes.com/images/2023/09/27/d2a1b8ee5b0a186cecc3658b412d6220.webp 768w, https://cdn.thebittimes.com/images/2023/09/27/d2a1b8ee5b0a186cecc3658b412d6220.webp 1394w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Token summary stats for SHIB holders. Source: <em>IntoTheBlock</em>
  </figcaption>
 </figure> 
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8"> 
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto"> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/27/a4c5c94e68fb233c1e42207b0136eb3c.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="investing-100-week-into-shib-in-2023-would-be-this-worth-today"> Investing $100/week into SHIB in 2023 would be this worth today </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/27/7198d042d8298d9e9e900a393bcc29f2.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="bitboy-crypto-supposedly-holds-80-million-in-xrp-yet-asks-community-for-donations"> BitBoy Crypto supposedly holds $80 million in XRP, yet asks community for donations </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/27/1116352fb4325a33671a17ea34649f87.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="us-national-debt-is-33-times-higher-than-total-crypto-market-cap"> US national debt is 33 times higher than total crypto market cap </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/27/ce5c262c49d4c3bad711155d332db18a.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="shibarium-blasts-off-3-million-transactions-achieved"> Shibarium blasts off: 3 million transactions achieved </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/27/08170befffea9daed21ee137940c6c0e.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="what-s-next-for-shib-price-after-shibarium-tvl-nosedives"> What’s next for SHIB price after Shibarium TVL nosedives? </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment"> 
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;"> 
  </div> 
 </div> 
 <p class="paragraph">Notably, the amount of <a rel="dofollow" title="losing" href="https://thebittimes.com/tag/losing.html">losing</a> holders has increased as the amount of these <a rel="dofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> <a rel="dofollow" title="holding" href="https://thebittimes.com/tag/holding.html">holding</a> for longer than one year also increased by 100bps. This means that both metrics could be correlated, with Shiba Inu accumulating more than 35% in price depreciation in the last 12 months, according to <em>CoinMarketCap</em>’s index.</p> 
 <p class="paragraph">Mid-term holders — holding for a period between 1 to 12 months —&nbsp; remained the same at 27% of the holder’s composition by time held, while short-term holders are leaving SHIB, and fresh money is not coming into the ecosystem.</p> 
 <h2 class="wp-block-heading" id="h-shiba-inu-faces-bearish-signals">Shiba Inu faces bearish signals</h2> 
 <p class="paragraph">Interestingly, on-chain signals are validating the data above about short-term holders losing weight in investors’ composition by holding time.</p> 
 <p class="paragraph">The “Net Network Growth” of just 0.26% is seen by <em>IntoTheBlock</em> algorithms as a bearish sign to Shiba Inu. The drop in the percentage of holders “In the Money” is also a bearish indication, as well as the amount of “Large Transactions” plummeting by 3.5%.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="390" src="https://cdn.thebittimes.com/images/2023/09/27/021ca35e249a05ec42fb7cdd0d702b62.webp" alt="Sentiment signals for SHIB." class="wp-image-130256" srcset="https://cdn.thebittimes.com/images/2023/09/27/021ca35e249a05ec42fb7cdd0d702b62.webp 1024w, https://cdn.thebittimes.com/images/2023/09/27/021ca35e249a05ec42fb7cdd0d702b62.webp 300w, https://cdn.thebittimes.com/images/2023/09/27/021ca35e249a05ec42fb7cdd0d702b62.webp 768w, https://cdn.thebittimes.com/images/2023/09/27/021ca35e249a05ec42fb7cdd0d702b62.webp 1536w, https://cdn.thebittimes.com/images/2023/09/27/021ca35e249a05ec42fb7cdd0d702b62.webp 1824w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Sentiment signals for SHIB. Source: <em>IntoTheBlock</em>
  </figcaption>
 </figure> 
 <p class="paragraph">However, there is a bullish imbalance in the “Bid-Ask volume” on crypto exchanges by 3.35%, which means that there are more orders to buy SHIB, than to sell the token, by this amount.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
 <p class="paragraph"> </p>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/almost-90-of-shib-investors-are-holding-a-losing-position-tbt64221.html">https://thebittimes.com/almost-90-of-shib-investors-are-holding-a-losing-position-tbt64221.html</a></p>

Almost 90% of SHIB investors are holding a losing position

Table of Contents

TheBitTimes

Other articles published on Sep 27, 2023

SEC Delays Decision on ARK 21Shares’s Spot Bitcoin ETF Application

Marriott Stock Below $200; Will MAR Stock Hold Breakout Zone?

SEC's Controversial Stance on Crypto Assets Draws Ire from Lawmakers

How Stellar Lumens Plans to Reach a Bullish Price of $0.25

ENT Stock Price: Price Recovers as the Investors are Not Done Yet

Deep Genomics Unveils Groundbreaking AI Foundation Model for RNA Therapeutics

Join our free newsletter for daily crypto updates!