Is the SHIB price going to zero? Shiba Inu owners in the red by more than 1 million

Is the SHIB price going to zero?

The majority of Shiba Inu (SHIB) holders are out of profit at the dog meme digital currency’s current price, tilting strongly towards the bearish sentiment, while the majority of assets in the cryptocurrency sector continue to consolidate their gains and trade sideways.

Specifically, according to the most recent data retrieved by Finbold from the cryptocurrency analytics platform IntoTheBlock on July 12, 84.85% or 1.06 million Shiba Inu addresses are “out of money” at the asset’s current price, while only 11.14% or 139,610 are in profit and 4% are breaking even.

When the numbers are crunched further, it appears that the majority of the holders who suffered losses (411,390 addresses) bought Shiba Inu between $0.000008 and $0.000014, making the average price of $0.00001 a significant resistance level for SHIB.

The Shiba Inu asset was purchased by the largest percentage of gainful holders (95,690 addresses) between $0.000000 and $0.000007, making the current average price of $0.000005 the most crucial support level for the dog meme cryptocurrency.

According to the most recent information, Shiba was trading at $0.000007536 at press time, up 0.03% over the previous 24 hours, 1.01% over the previous 7 days, and 14.21% on its monthly chart.

shiba inu
Shiba inu source: trading view

Although the future appears bleak for the majority of SHIB holders right now, the reality of this business is that anything can happen. This depends not only on developments involving the asset, like the upcoming Shibarium update, but also on the general climate in the cryptocurrency market.

Notice: Nothing on this website should be regarded as investment advice. It is speculative to invest. Your financial investment is at risk.

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