A report has revealed that a staggering 79.86% of addresses associated with the Shiba Inu (CRYPTO: SHIB) token have incurred losses reaching six figures.
What Happened: The addresses collectively hold an astonishing 887.86 trillion SHIB, which equates to a value of $7.81 billion and accounts for 90.31% of the total Shiba Inu supply.
Over 410.35 trillion SHIB are stored in a “dead” address, intended for burning.
According to an IntoTheBlock report, over a million Shiba Inu addresses have experienced losses in the current volatile crypto market.
More than a third of these addresses, approximately 363,670 wallets, had purchased the SHIB token within the price range of $0.000009 to $0.000014.
These investors hold a combined total of 262.88 billion Shiba Inu tokens, indicating that the majority of the losing addresses were acquired at comparatively low prices.
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Why It Matters: The remaining 210,300 addresses collectively hold 66 trillion SHIB tokens, representing roughly 16.72% of the total number of addresses and 6.71% of the overall Shiba Inu token supply.
Price Action: At the time of writing, SHIB was trading at $0.0000088 down 0.53% in the last 24 hours, according to Benzinga Pro.
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