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Almost Half of Shiba Inu (SHIB) Holders Are Not in Profit
According to the latest metrics and market analysis, the sentiment surrounding Shiba Inu (SHIB) has shifted to a bearish tone. The lack of significant price action and the waning network growth have raised concerns about the project’s future. It seems that the once-optimistic sentiment has given way to uncertainty and caution.
Unfortunately, this shift in sentiment is also affecting the majority of SHIB holders. According to the data, almost half of all investors are not currently in profit. This is a stark contrast to previous periods when the market was booming, and many were making significant gains.
The waning network growth, which indicates fewer new wallet activations, is particularly concerning. This suggests that there is little interest from new investors, which is crucial for maintaining increasing momentum in a market as speculative as SHIB.
In addition, Telegram community metrics have also seen a slight decline, indicating a drop in community enthusiasm and engagement. It’s essential to note that these numbers are not necessarily indicative of the project’s fundamental value but rather reflect the current sentiment and market conditions.
The current state of affairs suggests that there is a need for a shift in market sentiment before SHIB can recover. This may manifest as increased whale activity, strong network expansion or even a breach of significant resistance levels. Until then, it would be wise to adopt a cautious approach towards SHIB investments.
In the short term, traders should keep a close eye on the $0.000020 and $0.000023 price zones, which could potentially determine the direction of the market in the near future.
Sources:
* [1] Source 1
* [2] Source 2
Source: u.today
