Majority of Shiba Inu Holders Sitting on Losses Despite the Dogecoin Rival’s 55% Rally in Two Weeks

The price of the dog-themed cryptocurrency Shiba Inu (SHIB) is rising after the developer announced the launch of the ecosystem’s Layer 2 network, but many traders are still in the red.

SHIB has surged 37.5% over the past two weeks amid the hype around Shibarium’s Layer 2 scaling solution, which promises scalability, faster transaction times, lower fees, and an expanded development framework.

After trading at $0.000008 on January 1st, the token is now trading at $0.000011.

Despite the rally, the majority of Shiba Inu owners still suffer losses.Data from blockchain analytics firm IntoTheBlock show At the current price of SHIB, only 35% of token holders are making a profit and 55% are still losing money.

Of Shiba Inu investors, 63% purchased crypto assets more than a year ago, 34% acquired tokens in the last 12 months, and only 3% purchased SHIB within a month .

SHIB will hit an all-time high of $0.000086 in October 2021, surpassing $0.000020 a year ago.

Meanwhile, most holders of SHIB’s main rival Dogecoin (DOGE) have benefited as the memecoin is trading at $0.080, up from $0.073 two weeks ago.

Data from IntoTheBlock show 56% of DOGE investors are profitable and 41% are losing money. Among Dogecoin holders, 72% have held the token for more than his one year, 24% have purchased his DOGE in the last 12 months, and 4% have held the crypto for less than one month. I’m here.

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