Shiba Inu Faces Capitulation—What’s Next as 87% of Holders Sit in Loss?

Since peaking at an intraday price high of $0. 0000176 on May 12, the leading meme coin, Shiba Inu (SHIB), has witnessed a 33% decline. Due to the coin’s lackluster performance, on-chain data reveals that a significant portion of SHIB holders are currently at a net unrealized loss, signaling a state of capitulation in the market. What does this mean for investors? SHIB Bleeds as 87% of Addresses Now ‘Out of the Money’ According to Glassnode, SHIB’s Net Unrealized Profit/Loss (NUPL) metric shows that the meme coin is firmly in the capitulation zone source: https://beincrypto.com/shib-price-capitulation-rebound-soon/