Shiba Inu Profits Crash By 62% Following SHIB Price Crash This Week
🔥 Key Takeaways
Shiba Inu Price Plummets, Erasing Recent Gains
The Shiba Inu price has weakened sharply over the past week, erasing a large portion of recent gains and pressuring investor confidence. SHIB fell after a brief rally earlier this month, shifting sentiment from accumulation to selling. As losses mounted, many holders moved to lock in remaining value, accelerating the downturn.
On-Chain Profits Fall Sharply
According to on-chain data, Shiba Inu profits have fallen by 62% following the price crash. This suggests that investors who were holding SHIB in anticipation of further gains have been caught off guard and are now scrambling to lock in what’s left of their investment. The sharp decline in profits has added to the selling pressure, exacerbating the price drop.
Investor Confidence Shaken
The sudden and sharp decline in Shiba Inu price has shaken investor confidence. The shift from accumulation to selling has been swift, with many investors choosing to cut their losses rather than risk further declines. This change in sentiment has had a ripple effect, contributing to the price drop and on-chain profit decline.
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