Shiba Inu Address Profitability Declines as Price Holds Above $0.000011

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Shiba Inu investors are facing tougher conditions as address profitability has significantly declined over the past year. While SHIB’s price has managed to stay above the critical $0.000011 level, many holders are now deep in the red.

Last December, Shiba Inu saw an impressive surge that carried it to a local peak of $0.00003343. This rally followed a broader market uptick sparked by the momentum led by Trump. However, the meme coin struggled to maintain that momentum, meeting stiff resistance at its price peak.

SHIB Holds Key Support Level

Despite these headwinds, Shiba Inu has continued to hold above the psychologically important $0.000010 mark, with the token now trading above $0.000011. This price stability is a relief for long-term holders, but it hasn’t been enough to maintain high profitability for most addresses.

Fresh data from IntoTheBlock reveals how Shiba Inu’s on-chain profitability has changed over the past year. One year ago, on July 2, 2024, SHIB traded near $0.000017 after sliding from March highs around $0.00004. Back then, about 695,250 addresses were in profit, a healthy 51.87% of all Shiba Inu holders.

Meanwhile, 631,990 addresses, roughly 47.15% of the total, were underwater on their investments, while a tiny fraction, about 0.99% (13,240 addresses), sat at breakeven.

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Over 966K SHIB Addresses Now Sitting at a Loss

However, the picture looks bleaker today. Shiba Inu’s profitability improved during its December 2024 surge but has slipped back as price momentum faded. Currently, roughly 966,780 addresses are holding SHIB at a loss, marking about 66.66% of all non-zero SHIB wallets. This figure jumped by around 26,000 just in the past week.

Meanwhile, the number of profitable addresses has dropped to 435,980, only 30.06% of all SHIB holders. Interestingly, the number of breakeven wallets has increased to 47,640, which accounts for 3.28% of the total.

More Non-Zero Addresses Show Community Confidence

Despite the drop in profitability, new investors continue to flow into the SHIB ecosystem. A year ago, the total number of non-zero addresses stood at 1.34 million. Today, that number has risen to about 1.45 million, an increase of over 110,000 wallets since July 2024. This growth suggests many investors still believe in Shiba Inu’s long-term potential, even amid ongoing price struggles.

Community voices continue to share bullish views for SHIB. Last month, NBA Hall of Famer Scottie Pippen named Shiba Inu as one of the crypto assets he expects to shine in this bull cycle. Similarly, the pseudonymous trader “Pepe is Friend” believes investors buying SHIB at its current level will see strong gains.

Technical Setup Points to Possible Breakout

At the time of writing, Shiba Inu trades at $0.000011388, sitting near the top range of a falling wedge pattern. Technical analysts suggest that if SHIB can close above $0.000014, it could break out of the wedge, potentially unlocking further upside momentum.

In the meantime, SHIB holders will be watching to see whether the coin can maintain support above $0.000011 and attract enough bullish volume to reverse its downtrend, potentially lifting more addresses back into profit.