**Shiba Inu Investors See Profit Growth Despite Recent Market Challenges**
Over the past year, the number of Shiba Inu investors enjoying profits has steadily risen, even in the face of the latest downturn in the crypto market. The market has been grappling with bearish trends, despite a prevailing narrative of a bull market. This situation intensified on Monday, February 24, when the broader market experienced a significant crash, and Shiba Inu (SHIB), the second-largest meme coin, was not spared from this turmoil.
**SHIB Experiences 11% Decline**
On that day, Shiba Inu faced an 11.75% drop in price, marking its largest intraday loss in three weeks. This decline pushed the meme coin below the critical support levels of $0.000015 and $0.000014, establishing a new lower support region at $0.000013. This latest downturn represents a nearly 60% decrease from its peak of $0.00003343 in December 2024. However, on-chain data reveals that, despite the ongoing bearish momentum, Shiba Inu’s profitability has actually improved over the past year. According to data from IntoTheBlock, a greater number of Shiba Inu investors are now seeing profits on their holdings compared to February 2024.
**Shiba Inu Profitability Has Grown Since 2024**
At this time last year, Shiba Inu was experiencing a positive shift in market sentiment, with prices beginning to rise, although it still traded below the significant psychological level of $0.00001. Back then, 469,650 addresses were in profit, representing 35.15% of total addresses, while 828,050 addresses, or about 61.98%, were in the red. Additionally, 38,350 addresses, making up 2.87% of total wallets, were at breakeven.
Fast forward to today, and the landscape has changed for the better, even amidst the current bearish pressure. Following the recent crash, data indicates that 553,400 Shiba Inu addresses, or 38.65% of total wallets, remain profitable. This marks an increase of 83,750 wallets in profit over the past year. Furthermore, while the number of addresses in loss has also risen, their overall percentage has decreased. Currently, around 842,590 addresses are in loss, which accounts for 58.84% of the total, down from 61.98% last year. The number of addresses at breakeven has slightly decreased to 35,900.
**Shiba Inu in a Stronger Position Despite Market Sentiment**
The current data suggests that, despite prevailing bearish sentiments, the market conditions for Shiba Inu have improved compared to last year. Notably, market veteran Raoul Pal has urged patience, drawing parallels to the 2017 cycle, emphasizing the importance of staying the course during turbulent times.
