After Shiba Inu rallied past $0.000013, the share of profitable addresses rose, even as daily token burn volumes eased.
Notably, SHIB initially fell below $0.000013 yesterday following a widespread market downturn. However, Shiba Inu experienced a 5.37% growth over the past day, pushing its price above the $0.000013 level. It is currently trading at $0.00001368, representing a 14.76% surge over the past week.
Addresses in Losses Reduce Amid Latest Price Surge
Despite the surge, IntoTheBlock data suggests that 810,130 addresses are currently in losses at the current price. It is worth noting that this metric has shown significant improvement over the past few weeks.
Earlier this month, The Crypto Basic reported that 966,780 addresses were in loss as SHIB hovered around the $0.000011 level. With the price now at $0.00001368, the number of addresses in the red has fallen to 810,130, a 16.2% decline from the July 2 figure.
These addresses hold a combined 782.37 trillion SHIB tokens, including those permanently removed from circulation through burns.
On the other hand, 602,550 addresses are currently in profit. This represents a 38.2% uptick from the 435,980 addresses earlier this month. According to IntoTheBlock, they hold approximately 173.16 trillion SHIB tokens.
Additionally, the number of addresses at breakeven has decreased to 43,080 from 47,640, as previously reported.
Shibarium Continues Topping 4M Daily Transactions
In the meantime, Shiba Inu’s Layer 2 blockchain, Shibarium, has continued to process more than 4 million transactions daily. Over the past month, Shibarium processed fewer than 4 million transactions on three occasions: June 25 (3.98 million), July 3 (3.68 million), and July 7 (3.98 million).
Notably, it has registered over 4 million daily transactions since July 8, with 4.23 million transactions reported on July 15. Since its inception in August 2023, Shibarium has processed over 1.38 billion transactions, minted 12.04 million blocks, and interacted with 267.27 million blockchain addresses.
Out of the 281,057 total accounts registered on Shibarium, only 2,022 of them were active in the hours leading up to press time.
Shiba Inu Token Burns
Meanwhile, Shiba Inu experienced a drop in the number of SHIB tokens burned in the past day. Fresh data from Shibburn shows that the burn rate decreased by 86.91% over the past 24 hours, with only 180,292 tokens incinerated within the past day.
Additionally, the number of tokens manually sent to the official dead address over the past week decreased by 95.55% to 46.45 million SHIB, according to data from Shibburn.
Conversely, automated burns, particularly tokens destroyed through the Shibarium-powered ShibTorch portal, have increased by 0.81% in the past week. Based on the spike, ShibTorch has now destroyed 1,349,168,425 (1.34 billion) tokens since its launch in August 2024.
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.
