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1 Million Shiba Inu (SHIB) Addresses Officially Suffer Losses

1 Million Shiba Inu (SHIB) Addresses Officially Suffer Losses

According to IntoTheBlock data, there is a troubling trend among Shiba Inu token holders, with the number of people incurring losses nearing six figures. This statistic currently represents a whopping 79.86% of all addresses associated with the coin. These addresses jointly store an amazing 887.86 trillion SHIB, worth $7.75 billion and accounting for 90.31% of the total Shiba Inu token supply.

It is important to note, however, that 410.35 trillion SHIB are stored in a “dead” address, destined for burning. This basically renders a significant chunk of the token supply useless. More than a third of the 1 million lost addresses are ascribed to those who purchased SHIB between $0.000009 and $0.000014. These poor investors have 363,670 wallets totaling 262.88 billion Shiba Inu tokens.

Read Also: Shiba Inu Developer Reveals First Look at Coming SHIB Metaverse

In comparison, there are currently 210,300 addresses holding a total of 66 trillion SHIB tokens. This accounts for 16.72% of all addresses and 6.71% of the total Shiba Inu token supply. While this suggests that some holders avoided severe losses, the majority of investors have been harmed by recent market conditions.

of light of this, it’s worth noting the recent spike of new Shiba Inu addresses. According to coinmicroscope.com, there were 2,538 new SHIB addresses generated on May 26, the most in the previous three months. This inflow of new addresses indicates that people are still interested in cryptocurrencies, despite the widespread losses incurred by many investors.

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