Shiba

Resistance

Shiba Inu

Time

<p class="p2">The Shiba Inu holder’s profitability has been on a steady climb since the price rally began last month. This steady climb has resulted in one of the <a href="https://bitcoinist.com/shiba-inu-price-reach-0-01/">highest holder profitability levels</a> seen in the last year and a new 10-month high for the cryptocurrency.</p> 
<h2 class="p2" id="37-of-all-shiba-inu-holders-in-profit">37% Of All Shiba Inu Holders In Profit</h2> 
<p class="p2">Data from on-chain data aggregator IntoTheBlock has <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=inAndOut" rel="nofollow noopener" target="_blank">revealed</a> that the Shiba Inu profitability levels have climbed to a new 10-month high. Currently, 37% of all holders are seeing a profit, a new high from the August peak of 31.84%.</p> 
<p class="p2">This increase comes with the rise of the SHIB token which has gone from around $0.000007 to $0.00001 in the space of a month. At the same time, the profitability levels have gone from as low as 7.9% to 37%, putting a significant number of <a href="https://www.newsbtc.com/meme-coin/solana-meme-coin-dogecoin/" rel="nofollow noopener" target="_blank">SHIB holders</a> in profit.</p> 
<p class="p2">Despite this notable rise in profitability though, there are still a lot of holders nursing losses on their <a href="https://bitcoinist.com/shiba-inu-lead-dev-confirms-over-1-2-million-worth-of-shib-to-be-burned-details/">SHIB holdings</a>. Notably, data from the tracker shows that a total of 770,480 wallets, or 58.93%, are currently holding at a loss. Then the rest of the holder base which amounts to 3.98%, or 52,990 addresses, is sitting at breakeven. This means that these addresses are holding tokens that were last moved at roughly the same price as the current price of the token.</p> 
<p class="p2">In the same vein, the year-to-date average for investors seeing a profit and a loss shows the majority sitting in the latter. A total of 936,470 addresses, or 73.94%, are still out of the money. While 274,520, or 21.73%, are turning a profit, with 54,920 addresses, or 4.33%, are sitting at the money.</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/qdLCjkU6/" alt="Shiba Inu price chart from Tradingview.com" width="3266" height="1530"></p> 
<h2 class="p2" id="shib-faces-resistance-from-bears">SHIB Faces Resistance From Bears</h2> 
<p class="p2">As the Shiba Inu profitability levels have risen, so has the resistance from bears during this time. On Monday, <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-team-shib-bone-burns/" rel="nofollow noopener" target="_blank">the meme coin</a> saw a flash crash that made it lose its footing above $0.00001, sending it back to levels below high resistance.</p> 
<p class="p2">Nevertheless, SHIB continues to show further bullish tendencies especially as the crypto market has recovered from its flash crash. Its volatility levels are still above 50% which suggests there is still a lot of room for the altcoin to mount a bullish rally. As <a href="https://bitcoinist.com/shiba-inu-volatility-at-60/">Bitcoinist reported</a>, high volatility levels are always associated with an increase in price, and maintaining these high levels shows commitment from the bulls to keep pushing the price up.</p> 
<p class="p2">SHIB’s <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions" rel="nofollow noopener" target="_blank">large transactions from whales</a> also saw a more than 100% increase between Saturday and Sunday. This shows the whales are coming back into the meme coin and this increased activity could continue to prop up its price.</p>

Shiba Inu Just Reached Its Highest Profitability Level In 10 Months, Time To Sell?

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Bitcoinist

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