Only 12% of Shiba Inu Addresses in Profit
According to data from IntoTheBlock, the majority of Shiba Inu (SHIB) addresses, around 77%, are currently facing losses if they were to sell their SHIB tokens at the prevailing price. Additionally, approximately 11% of addresses are at a break-even point, neither in profit nor loss.
Decrease in Active Addresses
In the past seven days, there has been a decline of approximately 9.5% to 9.7% in the number of new, active addresses without a SHIB balance. This decrease in active addresses suggests a potential decline in interest or engagement with the SHIB network.
Stagnation in Shiba Inu Address Growth
The overall expansion of Shiba Inu addresses has shown signs of stagnation, with the average number of addresses holding SHIB tokens remaining around 1.24 million for several months. This indicates a lack of significant growth or adoption of the cryptocurrency.
Declining Telegram Users and Rising Negativity
The Shiba Inu Telegram group has experienced a notable decline in the number of users, accompanied by a significant increase in negative sentiment. Negative messages about Shiba Inu now outnumber positive ones by almost twice, indicating a shift in sentiment towards the cryptocurrency.
Retail Investors Hold 36% of SHIB Token Supply
Analysis of the ownership distribution of Shiba Inu Coins reveals that retail investors hold approximately 36% of the token’s total supply. Large investors possess about 25% of the circulating supply, while whales, addresses holding over 1% of the total token supply, control nearly a third. Small investors command almost 40% of the distribution.
Hot Take: Shiba Inu Faces Challenges in Profitability and Investor Sentiment
With the majority of SHIB addresses currently facing losses and a decline in active addresses, Shiba Inu is encountering challenges in terms of profitability and investor engagement. The decreasing number of Telegram users and rising negativity further contribute to the uncertain outlook for the cryptocurrency. Additionally, the ownership distribution reveals a landscape where retail investors hold a significant portion of the token supply. Overall, Shiba Inu’s future success will depend on its ability to address these issues and regain positive momentum.
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