Shiba Inu Addresses At Profit Or Loss At Current Prices

The entire crypto market is witnessing a reversal as the bulls have pushed most assets upward. Notably, the second-largest meme coin by market cap, Shiba Inu, is not left behind the bullish trend.

Recent data showcases the number of Shiba Inu addresses in profit and loss amid the recent price rally of the meme coin. SHIB broke the resistance level at $0.000007 last weekend, boosting the profitability of some of the addresses.

The Place Of SHIB Addresses Amid Price Rally

The IntoTheBlock’s In/Out of Money Indicator (IOM) disclosed some data regarding the positions of several Shiba Inu Addresses. The data relied on SHIB’s price at $0.000007 to highlight SHIB investors that are in profit, at a loss, or just at breakeven.

Usually, the IOM indicator would evaluate the average costs at which investors bought Shiba Inu coins. Then, it compares the costs with the current price of the meme coin to determine if the investors are in profit, loss, or a breakeven point.

The indicator noted that 47.98K addresses representing about 36.32% of Shiba Inu holders, are currently in profit, with SHIB trading at around $0.0000070.

Further, the indicator revealed that despite the recent price rally of SHIB, more addresses are still at a loss. According to the data, 78.65K addresses representing about 59.54% of the total SHIB holders, are at a loss.

However, about 5.4K addresses are presently at a breakeven position in line with the current price of the meme coin. This category is neither in profit nor loss and represents about 4.14% of Shiba Inu holders.

SHIB Makes Impressive Price Movement And Attractive Momentum

Shiba Inu is gradually reclaiming its value as the broader crypto market gets more bullish. At the time of writing, SHIB is trading at $0.000007323, indicating a surge of 2.30% over the past 24 hours. 

The meme coin recently initiated an upward move that saw it entering the $0.00000700 level last weekend. Also, the meme coin gained by over 7% within the past 7 days. Despite its price rally, Shiba Inu still has a significant barrier within the price regions of $0.00000701 and $0.00000800. 

Data from IntoTheBlock revealed investors bought more than 15 trillion SHIB coins within this price range. So, SHIB still has a resistance wall at the price range that could trigger selling pressure. From a positive outlook, Shiba Inu’s recent price rally has garnered more attention to the meme coin. 

With the anticipation for the launch of Shibarium, the layer 2 scaling solution for Shiba Inu, more impressive records can be seen on the beta testnet, Puppynet.

According to data from the blockchain explorer, the number of connected wallets is over 13.35 million. Similarly, the transaction count on Puppynet is more than 20.1 million.