Shiba Inu is still one of the market’s most popular meme currencies. This is reflected in the number of digital asset holders, which surpassed 1 million SHIB holders. The digital asset surged to new highs a month ago, which was the primary driver of the rising popularity. A downturn had rapidly followed this new all-time high, but it did little to prevent investors from investing money into it.
According to data from IntoTheBlock, the majority of individuals who bought in the dog-themed currency are still profiting. Despite the several drops that have shaken the market in recent weeks, this remains the case. Before the project’s bull run, a large number of Shiba Inu owners had invested in it. As a result, the majority were long-term holders profiting from their investments.
There had undoubtedly been investors who had gotten into the digital asset, but those who have lost money on their SHIB investments are a small fraction of those who have profited. According to the statistics, 69 percent of all Shiba Inu investors are still in profit, despite the digital asset dropping over half of its all-time high value, with just 21 percent of all holders losing money.
Then, some have invested in the digital asset’s present price in the center. According to IntoTheBlock, 10% of all Shiba Inu investors are in the neutral zone, which means they purchased their coins at the asset’s current value. This suggests that 10% of all overall investors, or around 100,000 based on the asset’s current holding count, are not in profit or loss.
Shiba Inu has completed the list of digital assets accessible to trade on all major cryptocurrency exchanges in the market with the latest launch of the digital asset on Kraken. The asset swiftly made its way across the major exchanges as indicated by CoinMarketCap, with Kraken remaining the sole outlier for some time. SHIB, on the other hand, is now accessible for trade on Kraken as of Tuesday.
It’s crucial to remember that Shiba Inu was scarcely on anyone’s radar six months ago. The cryptocurrency gained popularity after being dubbed the “Dogecoin killer,” however, activity in the asset was minimal.
The dog-themed coin has now evolved to become one of the largest cryptocurrencies by market cap, ranking 12th on the list. The meme currency has been an extremely successful enterprise for investors who got in on the crypto while still relatively obscure.
