Shiba Inu holders have remained optimistic about the prospects of SHIB despite most investors incurring losses on their holdings.
The broader crypto market is still attempting to recover from last week’s downturn, which was caused by Donald Trump’s announcement of a 50% tariff on goods imported from the EU.
SHIB Rebounds
This announcement sent shockwaves through the financial markets, plunging the prices of major assets like SHIB. Notably, Shiba Inu’s price, which soared to $0.000016 on May 23, crashed to around $0.000014 a few hours after Trump imposed a 50% tariff on EU goods.
The massive downturn continued over the weekend, with the price of SHIB slumping below the $0.000014 mark to $0.00001396 yesterday. However, SHIB’s price has rebounded and is changing hands at $0.00001460 in the hours leading up to press time.
Shiba Inu Investors Incur Losses
Despite Shiba Inu’s latest rebound, most on-chain addresses holding SHIB are in the red. IntoTheBlock data indicates that around 81.25% of Shiba Inu’s 1.44 million on-chain addresses, roughly 1.17 million wallets, are ‘out of the money,’ meaning they are currently in losses.
According to the data, these 1.17 million addresses hold a total of 800.39 trillion Shiba Inu tokens, currently valued at $11.68 billion.
It bears mentioning that the number of addresses in losses has drastically reduced from the figure recorded last month when SHIB traded around $0.000012. At the time, 87% of Shiba Inu’s on-chain addresses were reported to be at a loss.
Fresh data from IntoTheBlock indicates that only a small percentage of Shiba Inu’s holders are seeing gains on their SHIB investments.
Specifically, about 15.99% of on-chain addresses are “in the money.” These investors hold a combined 157.5 trillion SHIB tokens, valued at approximately $2.3 billion.
Meanwhile, the remaining 2.76% of holders, about 39,744 addresses, hold a total of 27.15 trillion SHIB worth $396.39 million. These investors are considered “at the money,” meaning they are neither in profit nor at a loss.
Investors Remain Bullish
Despite many investors being underwater, sentiment among Shiba Inu holders remains largely bullish.
Data from IntoTheBlock shows that 1.13 million addresses have held over 787 trillion SHIB tokens for more than a year.
About 290,630 addresses have held 174.92 trillion SHIB for one to twelve months. However, only 24,990 addresses are short-term traders holding 23.23 trillion SHIB for less than a month.
Notably, a significant portion of these SHIB tokens are currently held in Shiba Inu’s burn wallets. While Shiba Inu initially launched with a supply of 1 quadrillion tokens, over 410 trillion tokens have been sent to the burn wallet, permanently removed from circulation. This leaves Shiba Inu with a total supply of 589.5 trillion SHIB.
Massive Price Crash Looms
Meanwhile, with just a few days left before May 2025 ends, Shiba Inu’s price has already increased by 10.4% month-to-date. However, data from CryptoRank suggests that Shiba Inu might have a bearish performance next month, in June.
Since its launch, June has not been favorable to Shiba Inu, with declines of 4.75% in June 2021, 12% in June 2022, and 11.5% in June 2023. Notably, Shiba Inu also recorded another negative performance in June 2024, registering a monthly decline of 32.3%.
On average, Shiba Inu has posted a 15.1% loss in June, with a median monthly decline of 11.8%. If this trend continues, SHIB could face another double-digit decline next month.
Since past performance does not guarantee future results, Shiba Inu could overturn its June slump this year.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
