Shiba Inu Cryptocurrency: Only 1,207 Millionaires Left Amidst Market Decline and Investor Losses

The Shiba Inu cryptocurrency is undeniably suffering from the current bear market. The share price has reached an all-time low, with a loss of more than 90% from its peak value. This has inevitably led to a drop in the number of SHIB millionaires, a figure that is currently at an all-time low.

Only 1,207 Shiba Inu millionaires left

With the drastic fall of the Shiba Inu share price, many investors have lost their millionaire status. The once thriving community of millionaires has dwindled to a paltry 1,207 addresses. These addresses, each housing at least $1 million worth of SHIB, are becoming scarcer with every passing day.

The decline can be partly attributed to the memecoin losing support near $0.000008 and falling further. On the other hand, factors such as large investors, who in a hasty attempt to get out of the currency, are putting their holdings up for sale.

Shiba Inu Token Restructuring: Smaller Investors Lead the Way

However, the coins that are pouring back into the market due to this panicky selling are not being ignored. On the contrary, they are being swallowed up by smaller investors. This process ensures a more even distribution of the coins among the holders. Currently, wallets with at least $1 million in tokens represent only 0.1% of total holders, illustrating a clear shift in the investment landscape.

SHIB investors suffer huge losses

Shiba Inu is one of the worst performing cryptocurrencies of the past week. The share price has fallen by more than 20 percent in 7 days.

Partly because of this, only a paltry 11% of all investors can currently claim to be making a profit. However, the overwhelming majority, about 86% of the more than 1.3 million investors, are losing money at current prices.

To illustrate: Dogecoin (DOGE), Shiba Inu’s closest rival, can still claim that about half of its investors are profitable. And the profitability of Bitcoin (BTC), the undisputed king of cryptocurrencies, stands at a significant 62% of total owners.

If the current market trend continues and prices continue to fall, SHIB’s profitability levels may decline further. This would inevitably also lead to a further decline in the number of SHIB millionaires.

Despite the current setbacks, Shiba Inu remains a player to be reckoned with in the crypto landscape. After all, the coin has a significant community of followers and investors behind it.