Crypto intelligence platform IntoTheBlock reveals that a big percentage of Shiba Inu (SHIB) holders are still in green territory despite the meme coin’s deep pullback from its all-time high.
To determine which holders were currently in profit, IntoTheBlock looked at addresses with a Shiba Inu balance, identified the average cost at which the tokens were purchased, and compared them to the current price of the dog-themed crypto asset.
If the current price is greater than the average cost, then the holder is categorized as “in the money.” Similarly, if the average cost is less than the current price, then the address is listed as “out of the money.”
According to the crypto analytics firm, 71% of SHIB holders are making money at the coin’s current price of $0.000053. 17% are currently underwater and 12% are breakeven.
The crypto insights company also says that 78% of Shiba Inu holders are considered whales, meaning they own more than 1% of the circulating supply of the meme coin.
IntoTheBlock also reveals that 64% of addresses have been holding SHIB for a period of between one and 12 months while 36% have been holding the token for less than a month. No address has held any Shiba Inu token for more than twelve months.
At $0.000053, SHIB is down over 40% from its all-time high of $0.000089.
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The post Majority of Shiba Inu Holders Are in Profit Despite Deep Correction From All-Time High: Crypto Insights Firm IntoTheBlock appeared first on The Daily Hodl.
