After The 55% Gain, Most SHIB Holders Still Have Losses

Shiba Inu (SHIB), a cryptocurrency with a dog theme, is going up in price after developers announced the upcoming launch of the layer-2 network for the ecosystem. However, many traders are still in the red.

The hype about the Shibarium layer-2 scaling solution, which promises scalability, faster transaction times, lower fees, and an expanded development framework, has caused SHIB to rise by 37.5% in the last two weeks.

The token used to be worth $0.000008 on January 1, but now it’s worth $0.000011.

Even though the price went up, most Shiba Inu owners are still in the red. At the current price of SHIB, data from the blockchain analytics company IntoTheBlock show that only 35% of SHIB holders are making money, while 55% are still losing money.

63% of Shiba Inu investors bought their tokens more than a year ago, 34% bought them last year, and only 3% bought SHIB the previous month.

In October 2021, SHIB reached its all-time high of $0.000086. A year ago, it was worth more than $0.000020.

The most popular competitor to SHIB, Dogecoin (DOGE), is now worth $0.080, up from $0.073 two weeks ago. This is good news for most people who own DOGE.

According to information from IntoTheBlock, 56% of DOGE investors are making money, and 41% are losing money. 72% of Dogecoin holders have had their tokens for more than a year, 24% bought DOGE in the last 12 months, and 4% have only had the cryptocurrency for a month or less.