HomeAltcoinMost Shiba Inu Holders Sit at Loss Despite Rival Dogecoin's 55% Rally...

Most Shiba Inu Holders Sit at Loss Despite Rival Dogecoin’s 55% Rally in Two Weeks


The price of the dog-themed Shiba Inu (SHIB) crypto asset is recovering after developers announced the upcoming launch of the ecosystem layer 2 network, but many traders are still in the red.

SHIB is up 37.5% in the last two weeks amid enthusiasm for Shibarium’s Layer 2 scaling solution, which promises scalability, faster transaction times, lower fees, and an expanded development framework.

From changing hands for $0.000008 on January 1, the token is now trading for $0.000011.

Despite the uptick, most Shiba Inu owners still have losses. Data from blockchain analytics firm IntoTheBlock shows that at the current SHIB price, only 35% of token holders are making a profit, while 55% are still making losses.

Of Shiba Inu investors, 63% bought the crypto asset more than a year ago, 34% got their tokens in the last 12 months, and only 3% bought SHIB less than a month ago.

SHIB reached an all-time high of $0.000086 in October 2021 and was changing hands above $0.000020 a year ago.

Meanwhile, most holders of SHIB’s main rival Dogecoin (DOGE) are enjoying gains as the meme coin trades at $0.080, up from $0.073 two weeks ago.

IntoTheBlock data shows that 56% of DOGE investors are profitable and 41% are losing. Of Dogecoin holders, 72% have held their tokens for more than a year, 24% bought DOGE in the last 12 months, and 4% have held the crypto asset for less than a month.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

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