Shiba Inu (SHIB) Holds 36.95% Profit Despite Bearish Market

Shiba Inu (SHIB), a prominent meme cryptocurrency, has encountered bearish market conditions over the past month, struggling to gain significant upward momentum. However, data from blockchain analytics reveals that approximately 123.27 trillion SHIB tokens remain in profit, representing 36.95% of the total circulating supply. This indicates that despite the broader market uncertainties, a substantial portion of SHIB holders are still in a profitable position.

Despite recent price struggles, SHIB holders continue to maintain their positions. The total value of tokens that remain profitable stands at approximately $1.54 billion. This suggests that the asset has sustained investor confidence despite the market slowdown. At the time of reporting, the token is trading at $0.00001288, reflecting a 2.62% increase in the past 24 hours. This price movement indicates that there is still some level of investor interest and activity in the market.

On-chain data indicates that a substantial portion of SHIB tokens is currently at a loss. About 827.32 trillion SHIB, equivalent to 59.13% of the total circulating supply, is categorized as “out of the money,” meaning these tokens were purchased at a higher price than their current market value. The estimated worth of these holdings stands at approximately $10.34 billion. Additionally, 33.97 trillion SHIB, representing 3.92% of the total supply, is categorized as “at the money,” meaning these tokens are trading near their initial purchase price. The estimated value of these holdings is around $424.49 million.

SHIB has found strong support at the $0.000012 level over the past week, potentially due to the community’s ongoing token burn initiatives. The asset initially surged 495% within 24 hours with over 14 million tokens permanently removed from circulation. This reduction in supply could contribute to upward price pressure in the long run if demand remains steady. The community's efforts to reduce the circulating supply through token burns are a strategic move to create scarcity and potentially drive up the value of the remaining tokens.

Investor sentiment surrounding SHIB may also be influenced by recent whale activity. A previously inactive Ethereum whale recently acquired over 64 billion SHIB tokens, signaling renewed interest from large-scale investors. Historically, whale purchases have been viewed as a bullish indicator, as they suggest confidence in an asset’s future price appreciation. The growing adoption within the crypto ecosystem continues to gain attention. The Shiba Inu blockchain recently surpassed 1.5 million total holders, highlighting sustained investor participation and potential long-term support for the asset. Analysts suggest that if adoption trends continue to strengthen, SHIB may experience a price rebound in the coming weeks.

While the asset’s price performance has remained subdued, a significant portion of its circulating supply remains profitable, indicating resilience among holders. Despite the declining trading volume and prevailing bearish conditions, ongoing token burns and increased accumulation by large investors could set the stage for a potential price recovery. The profitability of 123 trillion SHIB tokens also highlights the token's ability to withstand market volatility. While other cryptocurrencies may have seen significant drops in profitability, SHIB has managed to maintain its value, demonstrating its robustness and stability. This resilience is a testament to the token's strong foundation and the community's unwavering support.