On-chain data shows that the majority of Shiba Inu holders are profitable as the asset continues to record shocking gains in the past few days.
Shiba Inu Performance
Shiba Inu has emerged as one of the leading performers in this unfolding bull season. At press time, Shiba Inu’s 24-hour peak stands at $0.00004533 following a 78.3% rally.
The asset broke the bull market doors barely ten days ago when it traded in the $0.000009 range. Since then, it has recorded over 350% gains, tripling holders’ investment portfolios.
Updated statistics from market intelligence platform IntoTheBlock have underscored the substantial number of SHIB investors enjoying profits due to the asset’s impressive performance.
SHIB Holders in Profit
Per IntoTheBlock’s record, 84% of Shiba Inu holders are in profit at its price of $0.00003892. Conversely, just 12% are still at a loss, suggesting investors that entered the Shiba Inu market at a much higher price valuation. Also, 4% of SHIB holders are at break-even points, making no profit or significant losses.
Furthermore, IntoTheBlock’s statistics suggested that most Shiba Inu holders have held on to the asset for more than a year. Specifically, 77% of SHIB investors bought the asset over a year ago.
Also, just 20% of holders acquired the asset within the last 12 months. Meanwhile, new Shiba Inu investors, who have held the asset for less than a month, account for just 3%.
Shiba Inu chart | IntoTheBlock
Notably, 1,376,344 wallets currently hold SHIB tokens, with a large holder concentration reaching 73%. This concentration is mainly due to large wallets associated with crypto exchanges, smart contracts, and other significant entities.
Whale Transactions Hit $3.79B
Meanwhile, the cumulative value of whale transactions exceeding $100k in the past seven days now stands at $3.79 billion. According to IntoTheBlock’s data, 2,222 of such transactions occurred on March 4.
This marks a significant increase compared to the 495 whale transactions observed on the final day of February.
In terms of investor sentiment, IntoTheBlock indicates that participants in the crypto market are increasingly bullish on SHIB, expecting further gains in the coming days.
