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- SHIB has decreased by over 3% in the last 24 hours
- 74% of SHIB holders are currently experiencing losses: IntoTheBlock.
The quirky memecoin, Shiba Inu, has claimed the top trending position within the cryptocurrency sphere, according to CoinMarketCap. It has been a significant subject of discussion since the launch of its mainnet blockchain – Shibarium. However, Shibarium did not fulfill the lofty expectations of the dog-loving community. The launch was suddenly interrupted for adjustments, leading to the absence of the anticipated bullish rally.
Compounding the worries, recent statistics from the well-known crypto analytics site IntoTheBlock reveal a concerning trend where 74% of SHIB holder addresses are ensnared in substantial losses.
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With a significant 951,320 addresses currently suffering losses, the drop in SHIB’s price has resulted in an enormous accumulation of 859.44 trillion Shiba Inu tokens trapped in these unprofitable addresses.
Approximately 268,720 addresses initially purchased SHIB at prices between $0.000009 and $0.000014, starkly contrasting with the present trading rate of $0.0000083 per token. This difference highlights the severity of the financial decline.
In the last 24 hours, a total of 85,194,367 SHIB tokens have been incinerated across 8 transactions. Concurrently, in a recent blog update, the Shibarium team reassured users that their assets are safe and promised an improved experience upon the platform’s public launch. Early adopters of the update are already rejoicing as bridged BONE tokens make their entrance. Significantly, the Shibarium utility token, BONE, has risen by an impressive 11.93% within just 24 hours.
Nonetheless, continuing with the bearish trend, SHIB’s price has dropped by 3.08% over the last 24 hours, currently priced at $0.0000080. Additionally, the trading volume has decreased by 24% in the same period.
