Shiba Inu has experienced a whole lot of price fall, causing a considerable number of investors to find themselves in a precarious position.
With the past few downward tendency in SHIB’s value, a staggering 1 Million addresses now find themselves in the red zone, facing losses in their investment.
In the context of cryptocurrency trading, the term “red zone” often refers to a situation where a digital currency is experiencing a whole lot of decline or negative price movement. It is commonly associated with bearish market conditions or a downtrend.
This turn of events has sparked concern and curiosity between digital currency enthusiasts and market observers similar, as they analyze the factors behind the price decline and its implications for future of the Shiba Inu (SHIB) and its large investor base.
Break Even Indicator Highlights Shiba Inu (SHIB) Price Fall Impact
In the midst of a volatile digital currency market, the price of Shiba Inu on CoinGecko as of now sits at a meager $0.00000852. Recent data signifies that SHIB experienced a modest 0.4 percent rally within the past 24 hours, but endured a gradual 2.0 percent decline over the span of 7 days.
Reports by IntoTheBlock the Break Even Price indicator, the price movement has left a whole lot of impact on SHIB investors. Out of the total SHIB addresses analyzed, approximately 1 Million addresses, accounting for 79.74%, find themselves in losses.
On the other hand, 219,880 addresses (17.51%) have either discovered profits or are as of now in profit. In addition, 34,600 addresses (2.76%) are at a break-even point, meaning they are neither in losses nor profits.
The Break Even Price indicator is a metric that examines the discovered profits and losses of SHIB holders according to on-chain data. It provides a comprehensive overview of the collective profits and losses experienced by those holding the Shiba Inu (SHIB) cryptocurrency.
This data sheds light on the overall financial state of SHIB investors, highlighting the prevailing challenges faced by a whole lot of portion of the community amidst the past few price fluctuations.
Selloff Pressure As Shibarium Launch Timeline Faces Uncertainty
In the meantime, recent data obtained from Etherscan outlines a noteworthy development within the Shiba Inu (SHIB) ecological system. In a span of just several hours, a substantial quantity of nearly 280 Billion SHIB crypto tokens, worth approximately $2,360,220, has been transferred to a Huobi wallet.
This whole lot of influx of crypto tokens suggests a potential intention to sell them, putting additional downward pressure on the SHIB price.
UNDERSTAND – if some testing goes wrong it may take longer – it’s being built – it’s not made from magic box
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) May 24, 2023
The Shiba Inu (SHIB) team likewise faces another challenge regarding the launch of their much-anticipated Shibarium.
In a recent tweet, @LucieSHIB, the official content marketing expert representing the Shiba Inu (SHIB) team, provided an update on the anticipated launch of Shibarium, the project’s Layer 2 network.
According to information shared by a SHIB developer known as Shibarium1, @LucieSHIB expressed her expectation that Shibarium could potentially be launched thereafter in the year, in particular in the third quarter.
