The current market uncertainty has had an effect on the value of the meme cryptocurrency Shiba Inu (SHIB), which has struggled to maintain stability throughout 2022.
In fact, the investors in the token have experienced both gains and losses as a direct result of the low SHIB prices.
A study of the profits investors made from holding SHIB, in particular, shows that at the asset’s price at the time of publication, 76% of holders are in losses while only 15% are in profits. The final 9% have achieved break-even.
Further analysis of on-chain data reveals that 52% of SHIB holders have held the token for more than a year, while 40% are investors with less than a year’s worth of holdings. Less than a month’s worth of holdings are only 8%.
Currently, SHIB is down less than 1% in the last 24 hours, trading at around $0.0000090.
Investors appear to be selling the token, as they appear to have failed to make a significant move in the asset’s price, losing about $510 million in capital in a month.