Shiba Inu (SHIB) Faces a Sale Worth $1 Billion If It Happens
The price of the Shiba Inu token, SHIB, saw a spike in trading today amid a market-wide rise. At one point during the day, SHIB was up 4.1%, but then it gave way, and now the token is listed at $0.0000107. If the positive sentiment among market participants persists, we can expect the Shiba Inu token to continue its “journey north.”
However, as InTheBlock data shows that at some point this will create unimaginable seller pressure on the SHIB price. This point should be $0.000012 per token.
This is where a large number of Shiba Inu tokens are now concentrated, according to the source. These are SHIBs bought in the range of $0.000011 to $0.000012. These tokens, numbering around 117.92 trillion SHIB, are now creating losses for their holders.
It turns out that on the one hand, a 12% price increase would release 75,000 addresses from losses. On the other hand, these wallets contain tokens with an overall equivalent value at present of $1.26 billion. Whether or not a large-scale Shiba Inu token sale will take place in this case is a big question.
In total, according to IntoTheBlock, more than half of all SHIB addresses continue to suffer losses. Nearly 200,000 addresses are in balance, or 15.5% of the total. Only 31.6% of addresses are currently profitable on SHIB, a total of 402,000.