Investors in the global cryptocurrency market are seeing their crypto holdings increase in value as the market continues to rally. According to data from on-chain analyst IntoTheBlock, 57% of Shiba Inu (SHIB) holders are currently making a profit as the price of the memecoin rose by 25.6% in the past day to $0.000014.
CoinGecko data shows that SHIB has outperformed the overall crypto market with its 25.6% surge, while bitcoin (BTC) and ether (ETH) gained 9% and 5.43% respectively.
IntoTheBlock’s latest data also reveals that 6% of SHIB holders have either made or lost money on their investment, while only 37% are currently at a loss.
Furthermore, the data shows that 76% of SHIB holders are large holders, and 77% of them have held their tokens for more than a year. Additionally, 21% have held their tokens for one to twelve months, while only 2% have held them for less than a month.
Over the past week, a significant amount of money has been moved around in SHIB, with a total of $345.99 million worth of transactions, each exceeding $100,000. This suggests a growing interest from institutional investors in SHIB.
While 57% of SHIB holders are currently making a profit, this percentage could increase in the future as analysts predict a more bullish outlook for the dog-themed memecoin in the coming weeks. Lucie, the marketing lead for Shiba Inu, recently stated on Twitter that SHIB could experience an 800% surge in a week, citing factors such as slow burns and steady demand.
If SHIB were to surge by 800%, its current price of $0.000014 would increase to $0.000121, erasing one zero and reaching a new all-time high.
Tags: Shiba Inu (SHIB)
