On-chain data shows that most Shiba Inu keepers are in profit as the asset continues to post shocking gains in recent days.
Shiba Inu show
Shiba Inu has emerged as one of the main performers in this ongoing bull season. As of this writing, Shiba Inu’s 24-hour high is $0.00004533, after rallying 78.3%.
The asset broke through the doors of the bull market just ten days ago when it was trading in the $0.000009 range. Since then, it has seen gains of more than 350%, tripling holders’ investment portfolios.
Updated statistics from market intelligence platform IntoTheBlock have underlined the considerable number of SHIB investors making profits thanks to the asset’s impressive performance.
SHIB holders in profit
According to IntoTheBlock’s documentation, 84% of Shiba Inu owners are in profit at its price of $0.00003892. In contrast, only 12% are still at a loss, suggesting that investors have entered the Shiba Inu market with a much higher price valuation. Additionally, 4% of SHIB holders are at a break-even point, with no significant profits or losses.
Additionally, statistics from IntoTheBlock suggest that most Shiba Inu owners have kept the asset for more than a year. Specifically, 77% of SHIB investors purchased the asset more than a year ago.
Furthermore, only 20% of holders purchased the asset in 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 | InBlock
Notably, 1,376,344 wallets currently hold SHIB tokens, with a large concentration of holders reaching 73%. This concentration is primarily due to the large wallets associated with cryptocurrency exchanges, smart contracts, and other significant entities.
Whale transactions reached $3.79 billion
Meanwhile, the cumulative value of whale transactions that have exceeded $100,000 over the past seven days now stands at $3.79 billion. According to data from IntoTheBlock, 2,222 such transactions occurred on March 4.
This marks a significant increase from the 495 whale transactions observed on the last day of February.
In terms of investor sentiment, IntoTheBlock indicates that cryptocurrency market participants are increasingly bullish on SHIB, expecting further gains in the coming days.
