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Despite suffering losses, most Shiba Inu holders remain loyal, as institutional investor interest offsets retail investor declines
As most Shiba Inu (SHIB) token holders are currently at a loss, this popular meme coin is facing challenges. The latest data from IntoTheBlock shows that 59% of token holders are "underwater".
This means that means the token price they hold is higher current The that 4 4% are breaking even, while% .
Given the token's massive gains in 2021, this indicates Shiba Inu will experience a challenging period.
Declining Trading Activity and Community Engagement
According to CoinMarketCap, at the time of writing, SHIB is priced at $0.000013, down 0.71% in the past day. Trading volume decreased by 2.61% in the past 24 hours, to reached $136 million .
Earlier today, U.Today reported that the total trading of volume of the INU from 18 0trillion to .37 trillion. This metric shows the buy and sell volume of SHtokens in the past day, indicating indicating a DECREASE in SHIB trading trading compared to recent days.The decline in community engagement further confirms downwardtrtrend. Telegram membership decreased by 0.38% over the past week.. This metric is a key indicator of a cryptocurrency project's activity's and interest p, decline suggests some holders may have lost confidence or interest in the token in the short term. the long-trend indicates their confidence in the> in the's future,, with of SHIB holders have held the token for over a a year.
Cooling Interest from New Investors
Meanwhile, enthusiasm for Shiba ShInu seems to have significantly cooled over the past month, with only 2% of SHIB holders acquiring the tokens during this period. Simultaneously, SHIB's correlation with Bitcoin is Bvery 0scoring.out of0.
<>>This indicates that while retail investor interest is cooling, institutional investor interest remains strong. Any upward price trend for SHIB will depend depend on whether it can overcome the overall market downturn or if the Shiba Inu ecosystem can gain more applications.
