Shiba Inu Profitability Plunges Alongside Slumping Price

The value of Shiba Inu (SHIB) has taken a significant hit, leading to a sharp decline in profitability for holders. The Shiba Inu price plunged 16% in the last 24 hours, reflecting broader market concerns and internal pressures on the meme coin. Shiba Inu price has plunged to a 13-month low amid a brutal selloff across financial markets.

Profitability Squeezed: The profitability of holding Shiba Inu (SHIB) has fluctuated alongside adjustments within the meme coin’s market worth. This decline comes despite the Shibarium network hitting a key 1 billion. Based on knowledge from analytics firm IntoTheBlock, only 9% of current SHIB holders are in a profitable position at the present value of around $0. per coin.

Data Paints a Grim Picture: According to data from analytics firm IntoTheBlock, just 41% of holders of Shiba Inu are currently making money, while over 51% are holding at a loss, indicating that the company is going through a challenging period. The profitability of holding Shiba Inu (SHIB) has fluctuated alongside changes in the meme coin’s market price.

Potential Price Dip Ahead? SHIB’s recent price increase to $0. faces potential resistance, suggesting a price dip is likely. On-chain data shows over 4 trillion SHIB are set to sell, which could further exacerbate the downward pressure on the price.

Looking for Alternatives: Amidst the struggles of SHIB, traders are eyeing a new meme coin presale that's offering a huge 379% staking APY. This highlights the risk appetite within the crypto community and the search for potentially more lucrative opportunities.