Over the past month, a significant proportion of Shiba Inu investors have felt the sting of the cryptocurrency market’s volatility. The Shiba Inu price, market cap, SHIB holders, losses have all been significantly impacted, with the market cap and price of SHIB experiencing a decline of more than 30%. This downturn has resulted in a staggering 89% of SHIB holders currently nursing losses.
Shiba Inu Market Cap and Price Take a Hit
According to data from CoinMarketCap, SHIB’s market cap stood at $6.14 billion as of August 14. Fast forward a month, and it currently sits at $4.29 billion (as of September 13). This represents a precipitous drop of 35.47% within a 30-day window, with the asset losing $1.85 billion from its market cap during this period.
Unsurprisingly, the erosion of $1.85 billion from SHIB’s market cap has also led to a significant decrease in its price. Data from CoinMarketCap indicates that the price of SHIB fell from $0.00001043 on August 14 to $0.00000725 on September 13, a decline of 35.97% in a month.
89% of SHIB Holders at a Loss
The sharp decline in SHIB’s price over the past month has led to significant losses for many investors. Current data from IntoTheBlock reveals that a staggering 89% of addresses are holding SHIB at a loss. On the flip side, only 9% of SHIB holders are in profit at the current price, with a further 3% breaking even.
SHIB Down in Line with Other Top Cryptocurrencies
Despite the recent launch of Shibarium, the Shiba Inu ecosystem’s L2 blockchain, SHIB’s price has remained low. This is in line with the broader crypto market, which is currently experiencing a bear cycle. Over the past month, top cryptocurrencies such as BTC, ETH, BNB, and XRP have seen their prices drop by 11.1%, 13.6%, 11.9%, and 23.4% respectively.
Nevertheless, the Shiba Inu development team remains optimistic about the asset’s future. They are focused on driving the widespread adoption of SHIB through the introduction of new technologies. While some in the community believe that burning a large portion of SHIB’s circulating supply could boost its price, Shiba Inu’s lead developer, Shytoshi Kusama, has stressed the importance of introducing new technologies and utilities for SHIB.
To keep track of the Shiba Inu price, market cap, SHIB holders, losses and other crucial data, consider using platforms like cryptoview.io. This application provides up-to-date and accurate information, helping you make informed investment decisions.
Start now using our tools for free.Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always conduct thorough research before making investment decisions.
