Shiba Inu (SHIB) has demonstrated its resilience in the face of recent market downturns. Despite a drop in the token’s price, over 650,000 wallet addresses holding approximately 700 trillion SHIB tokens remain profitable. This indicates the steadfast confidence of SHIB holders in the long-term value of the token.
Recent on-chain analytics have revealed that these wallet addresses acquired SHIB tokens at various prices, ranging from $0.000002 to $0.000022, with an average price of $0.000011. This demonstrates both a significant level of acquisition and a diverse base of investors who entered the market at lower valuations.
The “Break Even Price” indicator, derived from on-chain data, shows that many SHIB holders are still financially in the green. This suggests that holders have adopted a collective strategy to weather short-term price movements and focus on potential long-term returns.
This data reinforces the notion that SHIB is more than just a speculative asset and highlights the conviction among its community regarding the token’s future potential.
Despite recent declines in price, Shiba Inu has experienced a 3.3% increase in the last 24 hours, trading at $0.00002389. The upward trajectory in value aligns with an increase in the token’s trading volume, which has risen from below $400 million to over $600 million.
In addition to the price recovery, Shiba Inu has made significant progress in its ecosystem development. The completion of a hard fork in its Layer-2 blockchain solution, Shibarium, aims to improve usability and transaction efficiency. This upgrade is expected to enhance transaction speeds and stabilize fees, making the platform more user-friendly.
Furthermore, the hard fork focused on improving the Bor and Heimdall components of Shibarium, aiming to refine the platform’s technical infrastructure. These developments demonstrate the Shiba Inu team’s commitment to enhancing the network’s reliability and scalability.
Overall, the combination of profitable wallet addresses, price recovery, and ecosystem developments reflects the resilience and potential of Shiba Inu in the crypto market. It showcases the long-term outlook and growing confidence in the token among its community of investors.