Is it Time to Sell Your Shiba Inu? Highest Profitability in 10 Months
Lisette Lémieux
12 Dec 2023
Shiba Inu holders see increased profitability with new 10-month high for cryptocurrency, despite majority still holding at a loss.
The profitability of Shiba Inu holders has steadily increased since the price rally began last month, resulting in one of the highest levels seen in the last year and a new 10-month high for the cryptocurrency.
According to data from on-chain data aggregator IntoTheBlock, 37% of all holders are currently seeing a profit, a new high from the August peak of 31.84%. Despite this rise, 58.93% of wallets are still holding at a loss, while 21.73% are turning a profit and 4.33% are sitting at breakeven.
The recent flash crash has seen resistance from bears, but SHIB continues to show bullish tendencies with high volatility levels and increased activity from whales.