Shiba Inu Price Movements: Here's How Many Holders Are Now In Profit/Loss After That Sharp Drop

The Shiba Inu price movement has been marked by ups and downs prior to now seven days. Particularly, the meme coin rallied from $0.00001660 to $0.00001996 in three days before dropping sharply to $0.00001770 within the three days after. This volatile Shiba Inu price motion resulted in a fluctuating profitability for a lot of SHIB addresses, with some holders briefly seeing gains before the downturn pushed a major number back into loss territory.

Based on data from on-chain analytics platform IntoTheBlock (ITB), the sharp drop within the Shiba Inu price has seen about 44% of holders now in losses.

Fluctuating Shiba Inu Profitability Count

On-chain data from analytics platform IntoTheBlock (ITB) reveals that the recent decline has had a notable impact on the profitability of addresses holding Shiba Inu.

The Shiba Inu price began the week on a positive note. Particularly, the Shiba Inu price rallied alongside the broader crypto market from a low of $0.00001660 on October 26 to succeed in a peak of $0.00001996 on October 29. This 20% increase in three days took many investors by surprise and ignited hope for sustained gains.

Moreover, this rise saw greater than 30,000 Shiba Inu addresses cross into profitability, in response to the “In/Out of the Money” metric by IntoTheBlock. This metric follows the entire number and percentage of addresses in profit, losses, and at the cash based on the worth of the crypto asset.

Nevertheless, this optimism was short-lived, as the worth quickly reversed course and plunged from $0.00001996 on October 29 to $0.00001770 on November 1, essentially starting the month on a negative note. This 11% decline saw about 25,000 holders drop into losses, in response to the ITB “In/Out of the Money” metric.

Current Shiba Inu Profitability

On the time of writing, the Shiba Inu price has managed to bounce above a support at $0.00001770. On the time of writing, Shiba Inu is trading at $0.00001781 and is up by 3.2% prior to now 24 hours.

Based on IntoTheBlock’s data of all of the addresses currently holding SHIB, around 713,960 addresses are currently in profit. This represents about 52.5% of the entire SHIB addresses. However, 606,700 addresses are in losses, representing 44.62% of the entire SHIB addresses. Interestingly, 39,000 addresses, representing 2.87% of the entire SHIB addresses, are “at the cash.” Meaning they’re neither in losses nor profits.

Source: IntoTheBlock

The profitability around the present price also shows more holders in profit. Based on IntoTheBlock, 83,470 addresses that bought between $0.000015 and $0.000020 are currently in profit.

This represents about 60% of addresses that bought in at this range. However, 54,700 addresses on this cohort are in losses, representing 39.32%. Lastly, 931 addresses (0.67%) that bought SHIB between $0.000015 and $0.000020 are at the cash.