- SHIB dipped over 3% in the last 24H
- 74% of SHIB holders are currently facing losses: IntoTheBlock.
The eccentric memecoin, Shiba Inu, has taken the number one trending spot within the crypto community, as indicated by CoinMarketCap. It has been a prominent topic since its mainnet blockchain – Shibarium’s launch. However, Shibarium failed to meet the high expectations of the dog community. The launch was abruptly halted for repairs, resulting in absence of anticipated bull rally.
Adding to the concerns, recent data from the prominent crypto analytics platform IntoTheBlock highlights a troubling trend that 74% of SHIB holder addresses find themselves trapped in a sea of losses.
With a substantial 951,320 addresses currently facing losses. The decline in SHIB’s value has led to a massive accumulation of 859.44 trillion Shiba Inu tokens stranded in these unprofitable addresses.
Around 268,720 addresses initially invested in SHIB at prices ranging from $0.000009 to $0.000014, a sharp contrast to the current trading value of $0.0000083 per token. This disparity underscores the extent of the financial setback.
Meanwhile, in the past 24 hours, a total of 85,194,367 SHIB tokens have been burned in 8 transactions. Simultaneously, In a recent blog post, the Shibarium team assured users that their funds are secure. And promised an enhanced experience upon the platform’s public launch. Early beneficiaries of the update are already celebrating as bridged BONE tokens make their debut. Notably, the Shibarium utility token, BONE, has surged by an impressive 11.93% in just 24 hours.
However, persisting with the bearish momentum, SHIB’s value has declined by 3.08% within the past 24 hours, currently standing at $0.0000080. And the trading volume is down 24% in the same timeline.