Shiba Inu (SHIB) Profitability Plunges To Hell As Bloodbath Continues

The market crash has been especially brutal for meme coins such as Shiba Inu and Dogecoin. These coins had recorded impressive numbers in the bull runs of 2021 but the real test had come once the market had begun to decline. This meant that most have lost a large percentage of their all-time high values that were hit during the bull run. Along with this, the profitability of the meme coins had declined and has seen most investors holding bags of losses. Only 14% In Profit According to data from IntoTheBlock, the number of Shiba Inu investors who are making money at current prices has fallen drastically. It is currently sitting at only 14% of all investors are in the money, one of the lowest in the space for larger cryptocurrencies. Compared to its fiercest competitor, Dogecoin, Shiba Inu is performing terribly in terms of return. Where the latter is at 14%, Dogecoin investors in profit are sitting at 44%. Related Reading | Bitcoin Drops To 18-Months Lows, Has The Market Seen The Worst Of It? This means that the wider majority of the Shiba Inu investors are languishing in the loss. The data points to a total of 81% of all holders being in the loss. For those experiencing a little bit of reprieve, they find themselves in the neutral territory, where only 4% of holders currently reside. However, this may not last long either unless there is a significant recovery on the part of the meme coin. SHIB price declines more than 90...