Shiba Inu Stands Strong: Over 650K Wallet Addresses Still Profitable Amid Recent Price Drop
03 Mayo 2024 - 9:00PM
NEWSBTC
Shiba Inu (SHIB) has demonstrated resilience despite recent market
downturns. Data reveals that roughly over 700 trillion SHIB tokens
held by more than 650,000 wallet addresses remain profitable,
reflecting steadfast confidence among holders in the token’s
long-term value. Shiba Inu Market Resilience Amid Volatility Recent
on-chain analytics have uncovered an interesting trend among Shiba
Inu investors. Despite a general dip in SHIB’s market price,
investors continue to hold a substantial volume of tokens—totaling
733 trillion—showing unrealized gains. Related Reading: Massive
SHIB Movement Ignites Market Speculation: Is A Big Surge On The
Horizon? These holdings, maintained by approximately 653,530
individual wallets, were acquired at prices ranging from $0.000002
to $0.000022, averaging out at $0.000011. This indicates not only a
significant level of acquisition but also a broad base of investors
who entered the market at lower valuations, positioning themselves
in profit despite the coin’s fluctuating fortunes. The “Break Even
Price” indicator, a crucial tool derived from on-chain data,
suggests that many SHIB holders are still in the green financially.
This could point to a collective strategy among holders to weather
short-term price movements, with an eye on potential long-term
returns. Such data reinforces the notion of SHIB as more than just
a speculative asset, hinting at a deeper conviction among its
community regarding the token’s future potential. Long-Term Outlook
And Ecosystem Developments Despite a decline of 5.2% over the past
week and 11.9% over the past month, Shiba Inu has seen a recent
uptick of 3.3% in its price in the last 24 hours, trading at
$0.00002389. The SHIB price is moving sideways on the 4-hour chart.
Source: SHIB/USDT on TradingView Notably, this upward trajectory in
value mirrors the asset’s trading volume, which has also surged
from below $400 million last week to above $600 million as of
today. This recovery aligns with significant developmental strides
within the Shiba Inu ecosystem, particularly the completion of a
hard fork in its Layer-2 blockchain solution, Shibarium. The
Shibarium hard fork, executed at block height 4504576, introduced
enhancements aimed at improving usability and transaction
efficiency. This was a response to community feedback advocating
better performance and lower costs. This upgrade is expected to
boost transaction speeds and stabilize transaction fees on
Shibarium, making costs more predictable for users. Related
Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull
Flag Moreover, the recent hard fork’s dual focus—enhancing the Bor
and Heimdall components of Shibarium—aims to refine the platform’s
technical infrastructure. 1/ #Shibarium has successfully completed
its hard fork at block height 4504576! Get ready for: •Blazing-fast
transactions! ⚡ •Predictable gas fees! ⛽️
pic.twitter.com/oQrtF3OMTe — Shibarium Network (@ShibariumNet) May
2, 2024 By improving the calculation of state sync confirmation and
ensuring deterministic finality, the Shiba Inu team appears keen on
improving the network’s reliability and scalability. Featured image
from Unsplash, Chart from TradingView
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