Shiba Inu (SHIB), a meme-based cryptocurrency, continues to face pressure in the market, with many investors still holding at a loss.
According to IntoTheBlock data, a massive 82.96% of SHIB addresses are “out of the money”, meaning they bought SHIB at a higher price than its current value.
Only 14.97% of addresses are currently in profit, showing just how far the token has fallen from its highs. Despite this, 147.41 trillion SHIB tokens remain in profit — a reminder of SHIB’s wide distribution and past price surges.
The Shiba Inu community often burns SHIB tokens to reduce supply and help increase the price. In a recent update, about 15.2 million SHIB tokens were burned. This brings the total number of SHIB removed from circulation to 819 million.
However, the burn amount is much lower than the day before. Just one day earlier, over 110 million SHIB were burned after a sudden spike in community activity. This means the burn rate dropped by around 60.65% in a single day.
These ups and downs may show changes in the community’s mood or how active they are in burning tokens. Shiba Inu (SHIB) is trading at $0.00001216, showing a 1.48% increase in the past 24 hours.
Despite the bearish price trend, there’s good news from the SHIB ecosystem. Shibarium, the Layer-2 blockchain built for SHIB, has crossed an impressive 1 billion total transactions.
In just 24 hours, the network handled 4 million transactions, and the total number of blocks is now over 10.2 million. Shibarium also boasts nearly 194 million active addresses, a sign that adoption and network use remain strong.
Also Read: ShibAI Explodes over 18,000% in one day after Launch
