Shiba Inu Profitability Jumps as SHIB Price Regains Key Level
The post Shiba Inu Profitability Jumps as SHIB Price Regains Key Level appeared on BitcoinEthereumNews.com. Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. According to IntoTheBlock data, Shiba Inu’s profitability has increased slightly as the SHIB price returns to a crucial level. On-chain analytics platform IntoTheBlock categorizes addresses and tokens accordingly to obtain an aggregate view of the profitability of a specific crypto asset. These are classified based on whether they are profiting (in the money), breaking even (at the money), or losing money (out of the money) on their positions at the current price. This is done by determining an address’s average cost based on the weighted average price at which it bought the tokens currently held. In this regard, Shiba Inu addresses that are profiting have seen an increase from 7% reached at the peak of the sell-off in the week gone by to a current 9%. The week gone by saw a sell-off in the general crypto markets, and Shiba Inu was not excluded from bears’ impact, dipping to lows of $0.00000671 on Oct. 11 and losing the zealously guarded $0.000007 to the bears. All hopes were not lost as buyers stepped in at the $0.00000671 low and SHIB gradually began a rebound, reclaiming the $0.000007 level. Since Oct. 11, Shiba Inu has marked three consecutive days in green, reaching highs of $0.00000711 on Oct. 14. At the time of writing, SHIB was still sustaining its gains…
The post Shiba Inu Profitability Jumps as SHIB Price Regains Key Level appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. According to IntoTheBlock data, Shiba Inu’s profitability has increased slightly as the SHIB price returns to a crucial level. On-chain analytics platform IntoTheBlock categorizes addresses and tokens accordingly to obtain an aggregate view of the profitability of a specific crypto asset. These are classified based on whether they are profiting (in the money), breaking even (at the money), or losing money (out of the money) on their positions at the current price. This is done by determining an address’s average cost based on the weighted average price at which it bought the tokens currently held. In this regard, Shiba Inu addresses that are profiting have seen an increase from 7% reached at the peak of the sell-off in the week gone by to a current 9%. The week gone by saw a sell-off in the general crypto markets, and Shiba Inu was not excluded from bears’ impact, dipping to lows of $0.00000671 on Oct. 11 and losing the zealously guarded $0.000007 to the bears. All hopes were not lost as buyers stepped in at the $0.00000671 low and SHIB gradually began a rebound, reclaiming the $0.000007 level. Since Oct. 11, Shiba Inu has marked three consecutive days in green, reaching highs of $0.00000711 on Oct. 14. At the time of writing, SHIB was still sustaining its gains…
What's Your Reaction?
