Can Shiba Inu (SHIB) Investors Regain Their $7 Billion Profits?

Shiba Inu (SHIB) prices followed broader market indicators and recorded a red candlestick each day.

As a result, meme coin investors suffered huge losses, but they plan to get their money back.

Shiba Inu investors suffer huge losses

The price of the Shiba Inu has fallen by nearly 40%, causing more damage than expected, with one of the biggest hits being the billions of dollars worth of losses suffered by Shiba Inu owners.

According to the Global In/Out of the Money (GIOM) index, roughly 424 trillion SHIB worth over $7.3 billion has been lost. This supply was purchased between $0.00001700 and $0.00001900. This supply and another 190 trillion SHIB have been lost as the meme coin has fallen over the past month.

Shiba Inu Geom. Source: Inblock

However, investors are not discouraged by the losses and intend to recoup their profits, and the proof can be seen in the Average Coin Age (MCA), which measures the average age of all coins in the network and reflects the time since they were last moved.

A higher average coin age typically indicates a propensity to hold, while a lower one suggests increased trading activity. As SHIB continues to trend upwards, it appears that meme coin investors are HODLing their assets for now.

Read more: How to buy a Shiba Inu (SHIB) and everything you need to know

Shiba Inu MCA.
Shiba Inu MCA. Source: Santiment

This suggests that Shiba Inu investors are very confident, which is a good sign for a possible recovery.

SHIB Price Prediction: Consolidation Continues

Shiba Inu price is likely to surge in the coming days, but this will be limited by the resistance level at $0.00002093. The altcoin has tested the key price level just above $0.00002000 as a support floor multiple times in the past.

Hence, SHIB will remain consolidated on this basis and will require strong bullish signals from the market to break out of this.

Read more: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

Shiba Inu Price Analysis.
Shiba Inu Price Analysis. Source: Trading View

On the other hand, if the decline continues, the meme coin could drop to $0.00001473. This price point represents a critical support floor for Shiba Inu price – a loss of this price point could invalidate the bullish neutrality thesis completely.

Disclaimer

In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. While BeInCrypto strives to produce accurate and unbiased reports, market conditions are subject to change without notice. Always conduct your own research and consult with an expert before making any financial decisions. Please note that our Terms of Use, Privacy Policy and Disclaimer have been updated.

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