Shiba Inu Token Holders Remain Profitable Despite Price Consolidation

According to U.Today, despite the ongoing price consolidation of Shiba Inu (SHIB), a significant 733 trillion SHIB tokens held in wallets continue to be profitable. This fact highlights the resilience and long-term commitment of SHIB holders, even amidst short-term market fluctuations. The Break Even Price indicator, which evaluates realized gains and losses based on on-chain data for addresses currently holding the crypto asset, reveals that a large portion of SHIB holders are still in profit despite the recent price lull. IntoTheBlock's breakeven price indicator shows that 733.61 trillion SHIB held by 653,530 Shiba Inu addresses are in profit. These tokens were purchased within the price range of $0.000002 and $0.000022, with an average price of $0.000011. This data underscores the significant accumulation of tokens by SHIB holders who have endured multiple market cycles and remain dedicated to their holding strategy. This could suggest that many holders are adopting a long-term perspective on their SHIB holdings. Instead of yielding to short-term market volatility, these holders are focusing on the potential future growth and adoption of SHIB, as well as the development of the broader Shiba Inu ecosystem. At the time of writing, SHIB had risen 4% in the last 24 hours to $0.00002372, reflecting the general market recovery. After five consecutive days of declines, the SHIB price began to recover from its May 1 low of $0.0000223. Shiba Inu is continuing its recovery into the third day, reaching highs of $0.00002383 in today's session. Shiba Inu has been consolidating in a large range between $0.00001837 and $0.00003285, following its slide from highs of $0.000045 on March 5. In the very short term, a sustained break above the daily moving average 50 at $0.00002635 might trigger a new move for the SHIB price, with targets at $0.0000328 and, eventually, the $0.0000457 level.