Shiba Inu: Merely 12% of Investors Are Currently Making Money

Lavina Daryanani
Source: The Economic Times

Shiba Inu investors have been in distress for quite some time now. The price of the asset remains stagnated and holders have not been profitable on their investments. Data from CoinMarketCap revealed that the price of the asset has lost nearly 5% of its value over the past week.

In fact, Shiba Inu’s market cap also lost the $4.5 billion threshold and stood at $4.37 on Thursday. At press time, SHIB was trading below $0.000008, at $0.00000796.

The state of the coin’s Shape Ratio justified the investor distress narrative. Barring a handful of instances, the reading of this metric has mostly hovered in the negative territory this year. This indicates that market participants were not fetched with adequate returns for the risk borne by them.

With the price dunking over the past week, the reading of this metric continues to hover in negative territory. In fact, it flashed a negative reading of 2.48 on Thursday.

Source: Messari

Also Read: Shiba Inu Bulls vs. Bears: Who Has An Upper Hand?

Breaking Down The Profitability Numbers Of Shiba Inu Investors

Based on ITB’s Global In/Out of the Money indicator, only 12.4% of Shiba Inu addresses are in profit at the moment. 85.08% of them are underwater, while the remaining 2.52% of them are in a break-even position.

As depicted below, the majority of addresses have purchased SHIB at a price between $0.000008 and $0.000014. In the said largest cluster, around 350k addresses have bought close to 200 trillion SHIB tokens.

Source: ITB

Also Read: Did Shiba Inu, Dogecoin Perform Better Than Tesla in 2022?

Leaving aside the numbers based on the current price, the state of affairs seemed to be comparatively better on the YTD average front. Per the historical In/Out of the Money indicator, close to 30% of addresses were in profit. Out of the remaining 70%, the major chunk was underwater [65%], while the remaining were in a no-loss no-gain state.

Source: ITB

Also Read: What Is The Typical Shiba Inu Hold Time Period?