{"id":555506,"date":"2023-10-16T09:00:43","date_gmt":"2023-10-16T09:00:43","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=555506"},"modified":"2023-10-16T08:55:31","modified_gmt":"2023-10-16T08:55:31","slug":"shiba-inu-plummets-around-91-expected-to-suffer-losses","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/shiba-inu-plummets-around-91-expected-to-suffer-losses\/","title":{"rendered":"Shiba Inu Price Spiral: 91% Of Investors Brace For Significant Losses"},"content":{"rendered":"

Shiba Inu (SHIB) holders are not exempt from the turbulence of the market in recent weeks. Analyzing the current state of affairs for holders of the meme coin, it becomes apparent that the profitability of investing in this particular asset type has been a rollercoaster journey.\u00a0<\/span><\/p>\n

Data derived from <\/span>IntoTheBlock<\/span><\/a>, an analytics firm, reveals a striking fact: a mere 9% of the current SHIB holders find themselves in a profitable position at the current value of roughly $0.0000069 per coin. This figure is indicative of the challenges that many SHIB investors are currently grappling with.<\/span><\/p>\n

Moreover, an additional 1% find themselves at a break-even point, while a staggering 91% face the harsh reality of being at an overall loss.<\/span><\/p>\n

Related Reading: Trillions In Shiba Inu On The Move: What Lies Ahead For The Meme Coin?<\/a><\/div>\n

\"\"<\/p>\n

Source: IntoTheBlock<\/pre>\n
Shiba Inu’s Price Plunge: A Tale Of Highs And Lows<\/strong><\/h2>\n
One of the key contributing factors to this landscape of varying profitability is the undeniable influence of Shiba Inu’s price volatility and the composition of its holder base. <\/span><\/p>\n
Over the past few months,\u00a0<\/span>SHIB’s market value has been subject to dramatic oscillations, largely propelled by substantial trading volumes. This volatility has undoubtedly played a pivotal role in shaping the current <\/span>financial positions of SHIB<\/span><\/a> holders.\u00a0<\/span><\/p>\n
It is also worth noting that an overwhelming 78% of the circulating supply of SHIB is concentrated within the wallets of the so-called ‘whale’ holders, emphasizing the significant influence of a few major players within the SHIB ecosystem.<\/span><\/p>\n
The plunge of Shiba Inu’s price, a staggering 92% drop from its all-time high of $0.00008616 in October 2021, has left many investors who bought at or near peak prices in a precarious position, facing significant losses. However, on the flip side, those who entered the market at relatively lower prices are potentially reveling in the positive returns yielded by their investments.\u00a0<\/span><\/p>\n
<\/p>\n
SHIB market cap slightly above $4 billion. Chart: TradingView.com<\/a><\/pre>\n
At the time of writing, SHIB’s price stands at $0.00000700, as per <\/span>CoinGecko<\/span><\/a>, showing a 1.2% gain over the past 24 hours, though still nursing a 1.0% loss over the past seven days.\u00a0<\/span><\/p>\n
Can Shiba Inu Overcome Resistance?<\/strong><\/h2>\n
Despite the apparent challenges faced by SHIB holders, a <\/span>glimmer of hope<\/span><\/a> emerges from the analysis of the price trends. It is evident that every significant dip in SHIB’s value is consistently followed by a period of recovery, creating what appears to be a repetitive “zig-zag” pattern.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
SHIB two-week price action. Source: Coingecko<\/pre>\n
Related Reading: Cardano Yearly Support: The Key To A 15% Price Breakout?<\/a><\/div>\n
This pattern is indicative of a healthy correction process, a natural phenomenon within the realm of cryptocurrency markets. It speaks to the resilience of SHIB and its ability to bounce back from adversities, offering a ray of optimism amidst the prevailing uncertainty.<\/span><\/p>\n
Furthermore, the current market dynamics suggest that SHIB is grappling with a local resistance level, posing a formidable challenge to its upward trajectory. The interplay of reduced activity among the whale holders and the ongoing battle to overcome this resistance level implies that if SHIB manages to break through this barrier, a bullish trend could be on the horizon.\u00a0<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Shutterstock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu (SHIB) holders are not exempt from the turbulence of the market in recent weeks. Analyzing the current state of affairs for holders of the meme coin, it becomes apparent that the profitability of investing in this particular asset type has been a rollercoaster journey.\u00a0 Data derived from IntoTheBlock, an analytics firm, reveals a striking fact: a mere 9% of the current SHIB holders find themselves in a profitable position at the current value of roughly $0.0000069 per coin. This figure is indicative of the challenges that many SHIB investors are currently grappling with. Moreover, an additional 1% find themselves at a break-even point, while a staggering 91% face the harsh reality of being at an overall loss. Related Reading: Trillions In Shiba Inu On The Move: What Lies Ahead For The Meme Coin? Source: IntoTheBlock Shiba Inu’s Price Plunge: A Tale Of Highs And Lows One of the key contributing factors to this landscape of varying profitability is the undeniable influence of Shiba Inu’s price volatility and the composition of its holder base. Over the past few months,\u00a0SHIB’s market value has been subject to dramatic oscillations, largely propelled by substantial trading volumes. This volatility has undoubtedly played a pivotal role in shaping the current financial positions of SHIB holders.\u00a0 It is also worth noting that an overwhelming 78% of the circulating supply of SHIB is concentrated within the wallets of the so-called ‘whale’ holders, emphasizing the significant influence of a few major players within the SHIB ecosystem. The plunge of Shiba Inu’s price, a staggering 92% drop from its all-time high of $0.00008616 in October 2021, has left many investors who bought at or near peak prices in a precarious position, facing significant losses. However, on the flip side, those who entered the market at relatively lower prices are potentially reveling in the positive returns yielded by their investments.\u00a0 SHIB market cap slightly above $4 billion. Chart: TradingView.com At the time of writing, SHIB’s price stands at $0.00000700, as per CoinGecko, showing a 1.2% gain over the past 24 hours, though still nursing a 1.0% loss over the past seven days.\u00a0 Can Shiba Inu Overcome Resistance? Despite the apparent challenges faced by SHIB holders, a glimmer of hope emerges from the analysis of the price trends. It is evident that every significant dip in SHIB’s value is consistently followed by a period of recovery, creating what appears to be a repetitive “zig-zag” pattern.\u00a0 SHIB two-week price action. Source: Coingecko Related Reading: Cardano Yearly Support: The Key To A 15% Price Breakout? This pattern is indicative of a healthy correction process, a natural phenomenon within the realm of cryptocurrency markets. It speaks to the resilience of SHIB and its ability to bounce back from adversities, offering a ray of optimism amidst the prevailing uncertainty. Furthermore, the current market dynamics suggest that SHIB is grappling with a local resistance level, posing a formidable challenge to its upward trajectory. The interplay of reduced activity among the whale holders and the ongoing battle to overcome this resistance level implies that if SHIB manages to break through this barrier, a bullish trend could be on the horizon.\u00a0 (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":555511,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,8686,83767,4735,84473,83667],"class_list":["post-555506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-ethusd","tag-meme-coins","tag-price-action","tag-shib-price","tag-shiba-inu"],"acf":[],"yoast_head":"\nShiba Inu Drops: Approximately 90% Expected To Suffer Losses<\/title>\n<meta name=\"description\" content=\"Shiba Inu (SHIB) holders are not exempt from the turbulence of the market in recent weeks. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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