Shiba Inu Profitable Addresses Nearly Doubled Post 10% Rally: Is SHIB Ready to Explode?

As Shiba Inu (SHIB) gears up for a potential breakout, analytics reveal an uptick in address profitability, with over 67% of SHIB wallets now in the money. This trend signals growing optimism surrounding the meme coin. Shiba Inu (SHIB), often referred to as the “Dogecoin Killer,” has captured the imagination of the crypto community. With analysts predicting a potential 3000% rally, the question arises: Could SHIB be your next big investment?

Shiba Inu Address Profitability Soars After Price Jump

Recent data showcases the number of Shiba Inu addresses in profit and loss amid the recent price rally of the meme coin. SHIB surged 10% on March 26, reaching an intraday peak of $0. . With a market capitalization of $8.6 billion, SHIB outpaced major competitors. This recent surge has dramatically altered the profitability landscape for SHIB holders.

From 10% to 67%: A Dramatic Shift in Wallet Profitability

According to data from IntoTheBlock, only 10.40% of all Shiba Inu on-chain wallets, or 482,970 addresses, were previously ‘in the money.’ This indicates that the addresses held SHIB purchased at a lower price than the current market value. The data now shows that the number of profitable addresses, or wallets in the money, in the Shiba Inu ecosystem comes in at 902,960 addresses, or 67.23% of the total on.

What Does This Mean for Shiba Inu's Future?

The near doubling of profitable addresses following the 10% rally suggests renewed investor confidence. While SHIB remains a volatile asset, this increased profitability could fuel further growth. Shiba Inu Lead Developer Shytoshi Kusama Nods To Crypto Analysts’ Sentiment On Selling Amid Market Crash: ‘They Really Want Your Cheap Crypto’ 1.3T Shiba. Keep an eye on key resistance levels as SHIB attempts to consolidate its gains and potentially embark on another rally.