Despite the Shiba Inu price falling nearly 50 percent from its all-time high, a majority of SHIB investors are still making a profit.
Most SHIB investors still make a profit
According to data from Intotheblock.com, 72% of SHIB investors, with a price of $0.000051, are still in the plus. In fact, only investors who bought SHIB tokens very late have suffered losses.
However, the big winners are the Shiba Inu whales. Indeed, only a few investors own more than 75% of all tokens. Often they have also owned these tokens for a long time. So that means they got very rich owning the meme token. Exactly this is also why many crypto analysts are critical of Shiba Inu. Too small a group of people owns more than three quarters of all the supply. The currency is thus highly susceptible to price manipulation.
So from the above image it can be read that 72 percent of the investors have a profit. This is calculated by comparing the average cost at which those tokens were purchased with the current price. If the current price is higher than the average cost, the address will be ‘In the Money’. If the current price is lower than the average cost, the address is “Out of the Money”.
Shiba Inu continues to face significant volatility
At the time of writing, the price of 1 SHIB token is around $0.00005315. That means that the price has risen by about 3 percent in one day. In a week, however, the price has fallen by more than 8 percent. The token suffers from very high volatility. In the period between November 4 and November 10, even 7.3 billion in market capitalization was wiped out.
This large price drop was partly caused by a large whale that sent four transactions of ten trillion SHIB tokens to other wallets. Some expected this large whale to be inactive, but that turned out not to be the case. This caused a large price drop.
For now, many SHIB investors are waiting for another price rally, it seems. Such a price rally could take place if trading platform Robinhood adds the token to its platform. More than half a million people have already signed an online petition to make this happen, but it is still uncertain whether Robinhood will list the token.
