The number of loss-making investors in Shiba Inu has increased in the last 20 days. While 82 percent of SHIB holders were in the red, 88 percent of the addresses were determined to be “out of money”.
Only 9 percent is covered in snow
Data obtained by Finbold from the IntoTheBlock app on September 27 revealed the price of the Shiba Inu token at the time each crypto wallet address was received, comparing it with current prices in the spot market.
According to the app, only 9 percent of all SHIB investors had a profitable position, while 3 percent purchased their tokens at the same price at the time of publication, in the region of $0.000007.
The amount of losing investors also increased, as the amount of investors who held the token for more than a year increased by 100 basis points. This was interpreted as both measurements could be associated with the Shiba Inu’s price loss of more than 35 percent in the last 12 months, according to the CoinMarketCap index.
Additionally, medium-term investors holding for a period between 1 and 12 months remained the same at 27 percent of the holder composition based on the period held, while short-term holders left SHIB and no new money entered the ecosystem.
Shiba Inu faces bearish signals
On-chain signals confirmed the above data regarding short-term holders losing weight by holding time in the composition of investors.
“Net Net Growth” of just 0.26 percent was seen by IntoTheBlock algorithms as a bearish sign for the Shiba Inu.
50606
