The year 2022 did not turn out to be the best for businesses, investors, or cryptocurrencies in general. Major cryptocurrencies suffered significantly in terms of price, including the well-known meme coin, Shiba Inu.
However, the meme coin worked with a number of influential figures in the industry and had a successful run of product launches, including the well-known Shiba Eternity game.
Read more: Shiba Inu Bags a New Partnership With Bugatti Group
The profitability of SHIB holders has been on the lower side ever since the beginning of the prolonged bear market. However, according to the latest data from IntoTheBlock, there has been a notable increase in the profitability of holders.
20% Shiba Inu holders now in profit
Data from IntoTheBlock suggests that 20% of the Shiba Inu holders are now in profit. Out of the 100% from the data set, 56% of holders are now at a loss.
It has also been observed that the composition of long-term holders has slightly increased. According to the data, 62% of holders have held their SHIB for over one year. Etherscan data reveals that the number of Shiba Inu holders currently stands at 1,278,536.
At press time, SHIB is trading at $0.000008880, with a 5% gain in value over the last 24 hours. There has also been a 268% hike in its 24-hour trading volume during this period, according to CoinMarketCap data.