19 Trillion Shiba Inu (SHIB) Cluster: Here's What It Implies
09/24/2024 18:09Shiba Inu could be reaching another massive threshold sooner than expected
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With data showing that a cluster of 19 trillion Shiba Inu is held by addresses at a profitability point, Shiba Inu is rapidly approaching a pivotal moment in its market activity. The short-term price movement of SHIB is significantly impacted by this clusterб which represents a sizable portion of the token's total supply.
The data indicates that SHIB is currently trading at about $0.000014 and that 65.5% of active addresses are sitting at the money, that is, they are holding SHIB at or close to its current price. With 19.46 trillion SHIB a total of 1.12K addresses are in this position. This cluster is significant because it shows that a sizable portion of SHIB holders are neither significantly losing money nor significantly profiting.
Three hundred eighty-five wallets, or 22.48% of SHIB addresses, are in the money, or profitable, at the current prices, according to the profitability distribution chart. These addresses make up about 12% of the total amount of SHIB held, which means that there is a smaller group of holders who might be hoping to lock in gains in the event that SHIB's price increases.
Sixty-one significant transactions totaling 1.42% of SHIB were made on the last day in the transactional domain. Despite its consolidation, it is noteworthy that SHIB's high transaction volume is significantly lower than its seven-day peak of 3.03 trillion SHIB, indicating that major players are not yet actively moving the token.
Large transactions as of late and the profitability cluster point to SHIB going through a consolidation phase. A significant concentration of addresses at breakeven levels indicates that the price is at a critical juncture, but a breakout or breakdown from this point may depend on market catalysts.