Over 70% of Shiba Inu (SHIB) owners are in profit

A majority of the token holders are still in profit despite memecoin Shiba Inu (SHIB) having been experiencing increased price volatility in recent days.

Over 70% of Shiba Inu (SHIB) owners are in profit
SHIB Token | Image: Optimisus

Intotheblock.com, an on-chain data reported that 72% of SHIB wallet addresses are in profit despite the token’s price at $0.000054 at writing time.

According to Intotheblock.com data, only 17% of holders are not making a profit on their SHIB investment. This might be late investors who bought the "Dogecoin killer" when the price fell from the recent all-time high. However, buying at low value offers an opportunity of profiting once prices begin to surge.

Moreover, the coin’s early investors are possibly controlling the largest of the SHIB tokens in supply. The data show that the group by large holders is at 78% but, the SHIB whales have been criticized as they have an important influence on the token’s future price movement.

The increase in the number of holders making money arises from Shiba Inu's popularity that has grown over the recent weeks. In particular, the profits also resulted in a growing number of holders. Recently, Shiba Inu reached over 970,000 holders.

At press time, the SHIB token is trading at $0.000055 with a 24-hour trading volume of $2,155,518,561. This means SHIBA INU is up 5.35% in the last 24 hours on CoinMarketCap.