Shiba Inu (SHIB), according to the data revealed by IntoTheBlock’s breakeven price analysis, has come close to the milestone of 627 trillion SHIB, signaling an important turning point. This indicator evaluates the gains and losses of SHIB holding addresses with data on the chain.
Shiba Inu (SHIB) Analysis
When examining the breakeven price chart provided by IntoTheBlock for Shiba Inu, the red cluster representing addresses with the biggest share on its side and representing losses stands out. Surprisingly, 468,690 Shiba Inu addresses hold 627.45 trillion SHIB with a price range of $0.000009 to $0.000027, with an average of $0.000015.
To reach the breakeven point for these addresses, the value of SHIB tokens needs to rise to an average of $0.000015. SHIB has experienced a 3.01% decrease in price in the last 24 hours and is trading at $0.000008513.
The problem here seems to be at the level where investors made their purchases. A significant number of addresses that invested in Shiba Inu (SHIB) when its value was higher are currently in a negative position.
Future of Shiba Coin
It was shared that Shiba Inu’s eagerly awaited Shibarium recently recorded over one million blocks. This milestone has attracted attention as an important development.
However, despite surpassing this important point, Shibarium has recorded less than 10,000 transactions on a daily average. This amount indicated a significant decrease and concern from the peak of 202,970 transactions on September 11.
The SHIB team seems to be working hard for mass adoption. Lucie (@LucieSHIB), an important member of the SHIB team, called on users to transfer their tokens to Shibarium in a statement.
Lucie stated that the fees on the platform can be neglected for now and emphasized that this could be an important driving force to increase the number of users.
Another impact of Shibarium is seen in token burning. Lucie referred to Shibarium and said:
The more you use it, the more you contribute to burning.
Investors in the market and users who want to invest are closely following the historical development of SHIB. Recently, ChatGPT revealed the possibility of reaching the breakeven point for large investors, which is $0.000015, and even the possibility of the price reaching $0.00001 before the end of 2023.
