Despite recent market fluctuations, Shiba Inu (SHIB) has maintained its resilience. Data shows that approximately 700 trillion SHIB tokens, held by over 650,000 wallet addresses, are still profitable, reflecting the token holders’ strong belief in its long-term value.
Shiba Inu Stands Strong in the Shadow of Volatility
Recent on-chain analyses reveal an interesting trend: while the market price of SHIB generally declines, investors are holding onto a significant amount of 733 trillion tokens showing unrealized gains.
These assets, held by approximately 653,530 individual wallets, were purchased at prices ranging from $0.000002 to $0.000022, with an average price of $0.000011. This not only represents a significant buying level but also a broad base of investors who entered the market at lower valuations and remain profitable despite the volatile cryptocurrency market.
Long-Term Outlook and Ecosystem Developments
Shiba Inu experienced a 5.2% drop last week and an 11.9% decline on a monthly basis, but it saw a 3.3% increase in price in the last 24 hours, trading at $0.00002489. Currently, the price of Shiba Inu (SHIB) is following a horizontal trend over the last 4 hours. Notably, this trend of price increase is also marked by a significant rise in trading volume, which has risen from under $400 million last week to over $600 million today.
This recovery is in line with significant development steps in the Shiba Inu ecosystem. In particular, the completion of the hard fork in the Layer-2 blockchain solution Shibarium has been influential in this increase. The Shibarium hard fork brought significant improvements aimed at enhancing usability and transaction efficiency. These improvements result in better performance and lower costs, responding to the community-focused feedback of Shiba Inu.
This upgrade is expected to increase transaction speeds and adjust transaction fees in Shibarium in a balanced manner, making costs more predictable for users. Additionally, the latest hard fork, which developed Shibarium’s Bor and Heimdall components, aims to improve the platform’s technical infrastructure. The Shiba Inu team appears committed to enhancing the network’s reliability and scalability by improving state synchronization verification and ensuring deterministic certainty.
