Shiba Inu (SHIB) Remains Market-Resilient Despite Recent Price Struggles

Despite recent price struggles, SHIB holders continue to maintain their positions. The total value of tokens that remain profitable stands at approximately $1.54 billion.

Shiba Inu (SHIB) has struggled to gain significant upward momentum over the past month, facing bearish market conditions and limited interest from major crypto traders. However, data from blockchain analytics firm IntoTheBlock reveals that approximately 123.27 trillion SHIB tokens remain in profit, amounting to 36.95% of the total circulating supply.

The total value of tokens that have seen profitable trades is estimated at around $1.54 billion. This indicates that the asset has sustained investor confidence despite broader market uncertainties.

At the time of writing, SHIB is trading at $0.00001288, showing a 2.62% increase in the past 24 hours. However, trading activity has weakened, with daily trading volume dropping by 20.24% to approximately $109.87 million.

This slowdown suggests that investors are exercising caution, potentially waiting for more favorable market conditions before increasing their holdings.

On the other hand, a substantial portion of SHIB tokens are currently at a loss. Approximately 827.32 trillion SHIB, which equals 59.13% of the total circulating supply, is categorized as “out of the money.”

These tokens were purchased at a higher price than their current market value, with an estimated total value of about $10.34 billion.

Additionally, 33.97 trillion SHIB, or 3.92% of the total supply, are categorized as “at the money,” indicating that they are trading near their initial purchase price. The estimated value of these holdings is around $424.49 million.

SHIB has found strong support at the $0.000012 level over the past week, which may be attributed to the community’s ongoing token burn initiatives.

Recently, the asset experienced a 495% surge within 24 hours as over 14 million tokens were permanently removed from circulation. This reduction in supply could contribute to upward price pressure in the long run if demand remains relatively stable.

Investor sentiment surrounding SHIB may also be influenced by recent whale activity. A previously inactive Ethereum whale has made a significant move by acquiring over 64 billion SHIB tokens.

This purchase is noteworthy as it was made after a seven-month dormancy period, suggesting a potential return to the cryptocurrency market.

Historically, whale purchases have been viewed as a bullish indicator, as they suggest confidence in an asset’s future price appreciation.

Furthermore, SHIB’s growing adoption within the crypto ecosystem continues to gain attention. The Shiba Inu blockchain has recently surpassed 1.5 million total holders, highlighting sustained investor participation and potential long-term support for the asset.

If adoption trends continue to strengthen, SHIB may experience a price rebound in the coming weeks.

While the asset’s price performance has remained subdued, a significant portion of its circulating supply remains profitable, indicating resilience among holders. Despite the declining trading volume and prevailing bearish conditions, ongoing token burns and increased accumulation by large investors could set the stage for a potential price recovery.

This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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