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During 2022, the value of Shiba Inu (SHIB), a meme-cryptocurrency, sought to maintain stability, however, against the backdrop of a general bear market, these efforts cannot be called successful.
An analysis of the return on investment from investments in SHIB shows that at the current price, about 76% of owners are at a loss, only 15% are in profit. The remaining 9% reached the break-even point.
SHIB owners make money. Source: CoinMarketCap
Further analysis of network data shows that the majority of SHIB holders (52%) have held the token for more than one year, 40% have been investors for less than 12 months. Only 8% keep the token-meme for less than a month. Within a month, investors sold the token, losing about $510 million.
SHIB is currently trading at $0.0000090, having corrected less than 1% in the last 24 hours.
Monthly SHIB market capitalization chart. Source: CoinMarketCap
Additionally, TradingView’s Shiba Inu daily technical analysis remains bearish with the summary pointing to a sell at 14. The moving averages recommend a “strong sell” at 12, while the oscillators also point to a “sell” at 2.
Daily technical analysis of SHIB. Source: Trading View
It is worth noting that the price of SHIB has dropped a lot, despite the fact that the developers are working to make the token more useful. They focused on the possibilities of the metaverse and decentralized finance (DeFi).
Perhaps for this reason, the SHIB community continues to hope for new buyers. According to Finbold, the token gained more than 50,000 new holders within a month.
CoinMarketCap users are not writing off the meme coin, predicting that the asset will trade at $0.000011 by December 31st. This means an increase of more than 23% compared to the current price of SHIB.
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