Price: $0.38524 18.9605%
Market Cap: 56.54B 1.8947%
Volume (24h): 40.84B 0.4%
Dominance: 1.8947%
Price: $0.38524 18.9605%
Market Cap: 56.54B 1.8947%
Volume (24h): 40.84B 0.4%
Dominance: 1.8947% 1.8947%
  • Price: $0.38524 18.9605%
  • Market Cap: 56.54B 1.8947%
  • Volume (24h): 40.84B 0.4%
  • Dominance: 1.8947% 1.8947%
  • Price: $0.38524 18.9605%
Home > Information news > Shiba Inu: 733 Trillion SHIB Stays Profitable Amid Price Dip

Shiba Inu: 733 Trillion SHIB Stays Profitable Amid Price Dip

Release: 2024/05/04 18:41 Reading: 462

Original author:U.Today

Original source:https://coinmarketcap.com/community/en/articles/663501ab411beb2ae99ec612

Cover image via U.Today

As the Shiba Inu (SHIB) price continues its period of consolidation, on-chain data reveals a surprising insight: a massive 733 trillion SHIB tokens held in wallets remain profitable despite the current lull in SHIB's price. This revelation underscores the resilience and long-term commitment of SHIB holders, despite short-term fluctuations in market sentiment.

The Break Even Price indicator examines realized gains and losses based on on-chain data for addresses currently holding the crypto asset. Despite the recent SHIB price lull, this on-chain indicator reveals a substantial portion of SHIB holders continue to hold onto their tokens at levels where they are in profit. IntoTheBlockShiba Inu (SHIB) Break Even Price, Courtesy: IntoTheBlock
According to IntoTheBlock's breakeven price indicator, a whopping 733.61 trillion SHIB held by 653,530 Shiba Inu addresses are in profit, having been bought in the range of $0.000002 and $0.000022 at an average price of $0.000011. 

This figure highlights the significant accumulation of tokens by SHIB holders who have weathered multiple market cycles and remain committed to their hodling strategy. 

Furthermore, this might suggest that many holders are taking a long-term perspective on their SHIB holdings. Rather than succumbing to short-term market volatility, these holders are focused on the potential future growth and adoption of SHIB, as well as the development of the broader Shiba Inu ecosystem.

SHIB price action

At the time of writing, SHIB was up 4% in the last 24 hours to $0.00002372, matching the general market recovery. After five straight days of falls, the SHIB price began to recover from its May 1 low of $0.0000223. 

Shiba Inu is continuing its recovery into the third day, achieving highs of $0.00002383 in today's session. Shiba Inu has been consolidating in a large range between $0.00001837 and $0.00003285, following its slide from highs of $0.000045 on March 5. 

In the very short term, a sustained break above the daily moving average 50 at $0.00002635 might spark a new move for the SHIB price, with targets at $0.0000328 and, eventually, the $0.0000457 level.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.