Meme token Shiba Inu (SHIB) is among the top three most watched cryptocurrencies in 2022 on the world’s largest crypto exchange.
Although traders are keeping a close watch on Shiba Inu, leading analytics firm IntoTheBlock says that only 3% of SHIB holders are making money on their holdings at time of writing, while 84% are underwater.
The Dogecoin (DOGE) rival went from $0.000033 at the start of 2022 to the current price of 0.000008, an over 75% year-to-date devaluation. The meme crypto asset is also down 90.4% from its all-time high, which it hit in October 2021.
Per IntoTheBlock, 80% of the available SHIB is controlled by large holders, which the analytics firm defines as whales and investors that own more than 0.1% of the altcoin’s circulating supply.
The analytics firm also reveals that 58% of SHIB owners have controlled the meme token for over a year, while 37% have held onto it for more than a month but less than a year. Just 5% have held SHIB for less than a month.
Looking at Bitcoin, 44% of holders are seeing profits while 52% are in the red, according to IntoTheBlock.
Some 72% of Bitcoin owners have held onto the king crypto asset for more than a year, while 22% have held on to it for under a year but over one month. Just 6% have held Bitcoin for less than a month.
The analytics firm adds that deep-pocketed investors own 9% of Bitcoin’s current circulating supply.
Looking at Ethereum, IntoTheBlock finds that 46% of ETH holders are profitable, while 52% are in the red.
ETH whales and investors hold 38% of the circulating supply. About 68% of Ethereum owners have held onto their ETH for more than a year, while 28% have for less than a year but more than a month. Just 4% have held onto ETH for under a month.
At time of writing, Bitcoin is changing hands at $16,686, while Ethereum is trading for $1,189.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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