Over 83K More Shiba Inu Investors are in Profit Now Than Last Year Despite Recent Market Slump

The number of Shiba Inu investors in profit has only increased over the past year despite the latest crypto market slump.

Notably, the crypto market has continued to navigate bearish pressure despite the prevalent bull market narrative. This situation worsened on Monday, Feb. 24, as the broader market witnessed a massive crash. Shiba Inu (SHIB), the second-largest meme coin, did not escape this onslaught.

SHIB Crashes 11%

Particularly, Shiba Inu recorded an 11.75% price collapse on Monday, marking its biggest intraday loss over the past three weeks. This pushed the meme coin below the $0.000015 and $0.000014 support levels, triggering the emergence of a new, lower support region at $0.000013.

The latest crash marked a near 60% drop from the December 2024 peak of $0.00003343. However, on-chain data indicates that despite the prevalent bearish momentum, Shiba Inu profitability has actually improved over the past year.

Notably, data from IntoTheBlock confirms that more Shiba Inu investors are seeing profit on their holdings than in February 2024. For context, during this time last year, SHIB was observing an improvement in market sentiment, as prices started appreciating, but the meme coin still traded below the pivotal $0.00001 psychological mark.

Shiba Inu Profitability Has Improved Since 2024

At this point, addresses that were witnessing profits on their holdings amounted to 469,650, accounting for 35.15% of the total addresses. Meanwhile, those seeing losses were much greater, numbering 828,050 addresses, about 61.98% of the total. Further, 38,350 addresses, representing 2.87% of total wallets, were at breakeven.

Fast forward to a year later, and profitability has improved despite the ongoing bearish pressure. Despite the crash on Monday, data shows that up to 553,400 Shiba Inu addresses, representing 38.65% of total wallets, are still in profit. 

Notably, this indicates that wallets holding SHIB at profit increased by 83,750 over the past year. Moreover, besides the increase in number, which could also have been impacted by a broader rise in wallet addresses, general profitability has improved, currently at 38.65%, as opposed to 35.15% in February 2024.

Also, while addresses seeing losses have also increased in number, their overall percentage has dropped. Particularly, there are about 842,590 addresses in loss currently, but this only represents 58.84% of the total, down from the previous 61.98% from last year. Only addresses at breakeven dropped in number, now totaling 35,900. 

Shiba Inu in a Better Position Despite Bearish Sentiment

The current data indicates that amid the bearish sentiments, the market condition has actually improved from last year. Highlighting the recent drop, market veteran Raoul Pal called for patience, noting that in the 2017 cycle, a similar slump occurred with altcoins dropping 65%. However, the market eventually improved.

You guys all need to learn patience…

This was 2017. Very similar macro structure:

5 x 28%+ pullbacks in BTC
Most lasted 2 to 3 months before a new high
Alts saw 65% corrections.
All were noise.

Go do something else more constructive than stare at the screen. pic.twitter.com/jGyiOgKlYE

— Raoul Pal (@RaoulGMI) February 24, 2025

Meanwhile, Binance co-founder Changpeng “CZ” Zhao recently called attention to a previous tweet he made in December 2020, noting that despite improved price performance, some headlines in the future could suggest BTC had “crashed” to $85K. This has materialized. 

A similar occurrence is happening with Shiba Inu, which is witnessing bearish sentiments due to a drop to $0.000013 despite trading at a better position than it was a year ago. At press time, SHIB has recovered from the Monday drop, up 6.34% and trading at $0.00001423.