Here’s How Shiba Inu Address Profitability Has Changed Over the Past Year as Price Holds Above $0.000011

Shiba Inu address profitability has dwindled over the past year as SHIB witnesses price struggles amid broader market uncertainty.

Notably, Shiba Inu has continued to observe losses over the past few months. Specifically, after SHIB soared to a local top of $0.00003343 last December on the back of the Trump-led upsurge, it faced a roadblock at this price peak and has since continued to face challenges.

Shiba Inu Faces Price Struggles

Despite these struggles, Shiba Inu has continued to hold above the pivotal $0.000010 psychological level, currently maintaining a position above $0.000011. However, this resilience has not been enough to keep investors in a profitable position.

In particular, data from IntoTheBlock shows that Shiba Inu’s address profitability has collapsed over the past year. For context, on July 2, 2024, exactly a year ago, Shiba Inu traded around the $0.000017 price level amid a consistent price crash from the $0.00004 highs in March 2024.

Nonetheless, despite this downturn, on that day, there were about 695,250 addresses seeing a profit on their Shiba Inu balance. This figure represented 51.87% of the total Shiba Inu addresses with a balance. Meanwhile, 631,990 addresses, representing 47.15%, were nursing losses; while 13,240 addresses, about 0.99% of the total, held at breakeven.

Over 966K Shiba Inu Addresses Now at Loss

This metric improved dramatically in December 2024 but has since regressed over the past few months. Currently, around 966,780 addresses are witnessing losses on their Shiba Inu investments. This number, which has increased by 26,000 in the last week, marks 66.66% of total non-zero addresses.

However, addresses seeing gains have dropped to 435,980, representing just 30.06% of the total. Meanwhile, those at breakeven have increased to 47,640, a 3.28% share of the total addresses with balances.

Despite the drop in this metric, further data scrutiny shows that the Shiba Inu market has continued to welcome new investors within the period in question. Specifically, a year ago, SHIB had 1.34 million non-zero addresses. Now, this figure has increased to 1.45 million, indicating an increase of 110,000 addresses since July 2024.

This rise in non-zero addresses amid the price struggles indicates the growing confidence in Shiba Inu’s resurgence. Last month, NBA legend Scottie Pippen highlighted several crypto assets he believes will perform well in the ongoing bull run, with his list also featuring Shiba Inu. 

In addition, pseudonymous analyst “Pepe is Friend” claims investors who procure Shiba Inu at the current position will not regret their decision. At the current price of $0.000011388, Shiba Inu is trading at the higher end of a falling wedge. A rally above $0.000014 could trigger the necessary breakout, potentially leading to more upside.