Shiba Inu: Over 40% of SHIB Investors Profit as On-Chain Signals Rally
The current market shows 41% of Shiba Inu (SHIB) holders in a profitable position at present prices.
On-chain indicators suggest a positive trajectory for SHIB, with a 3.10% rise in significant transactions and a 0.29% increase in network growth. As of the time of writing, SHIB is valued at $0.00001084, demonstrating a 2.67% increase in the last 24 hours and an impressive surge of 33.99% over the past 30 days.
The trading volume stands at $238.91 million, marking a substantial 9.24% rise within the last day.
This upward trend in SHIB’s metrics arrives amidst a volatile crypto market. The surge in substantial transactions and network expansion reflects growing confidence among investors, bolstering the positive outlook for SHIB.
Additionally, recent news from Lucie, the official marketing manager of the Shiba Inu team, shared that a substantial quantity of SHIB tokens (8,471,583,707 SHIB worth $90,857) has been moved to unspendable wallets this month.
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This strategic action aims to reduce circulating supply, potentially influencing the token’s value positively.
Continuing their efforts, the Shiba Inu team implements strategies focused on sustainability and market dynamics for SHIB.
Investors and analysts keenly observe these initiatives, as the optimistic on-chain signals and strategic token movements create a favorable environment. The community eagerly anticipates the impact of these developments on SHIB’s future trajectory in the ever-changing cryptocurrency landscape.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
