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As of the latest data, Shiba Inu is trading at $0.000008929, reflecting a nearly 1% decline in the day’s trading. Over the past year, SHIB has witnessed a prolonged downward trend, resulting in financial setbacks for many investors. The once-prominent dog-themed token, which turned early investors into millionaires, has shifted from being a profit-generator to a loss-incurring asset since early 2022. Despite its price hovering below the 1-Cent mark, the token no longer holds the appeal it once had for the average investor.

 

 

 

Currently, a significant portion of SHIB holders finds themselves incurring losses, with only 29% experiencing profits in the cryptocurrency. Merely 6% of Shiba Inu holders are at a breakeven point with no gains or losses.

 

 

 

It is evident that a majority of SHIB holders are grappling with losses, with only a handful enjoying profits and a small fraction breaking even. Unfortunately, the outlook for improvement seems dim. Additionally, approximately 78% of SHIB’s wealth is concentrated among a limited number of investors.This situation raises concerns as it signifies a potential risk of substantial sell-offs, capable of triggering significant price declines. Such a scenario could set off a chain reaction, leading to further rounds of sell-offs and creating a domino effect in the market.

 

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