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According to the IntoTheBlock break-even price indicator, Shiba Inu (SHIB) is approaching a massive 627 trillion SHIB barrier.
The Break Even Price indicator examines realized gains and losses for addresses that currently possess the cryptoasset, in this case SHIB, based on on-chain data.
Looking at Shiba Inu’s break-even price chart, there is a big red cluster near where Shiba Inu is currently trading; in fact, it is the largest in this category, which represents addresses with realized losses.
This is where 468,690 Shiba Inu addresses bought a massive 627.45 trillion SHIB at a price range of $0.000009 and $0.000027, with an average price of $0.000015.
In this scenario, this implies that over 468,000 Shiba Inu addresses would need their SHIB tokens to increase to an average price of $0.000015 for them to break even.
At the time of writing, SHIB was up 3.84% in the last 24 hours to $0.0000088, per CoinMarketCap data.
Shiba Inu’s recent developments
Shibarium, Shiba Inu’s layer 2 solution, has been integrated into Atomic Wallet, a noncustodial decentralized wallet.
The news was announced in an X post, with the team stating that the integration will provide its five million users with access to Shiba Inu’s blockchain.
Following Shibarium’s integration, Atomic Wallet now supports all Shiba Inu ecosystem tokens, including SHIB, LEASH, Shiba Inu’s governance token and Shibarium gas token, BONE.
According to a new announcement, crypto firm Bakkt looks to be returning to digital asset custody as its primary business.
Bakkt will add six new tokens including Shiba Inu to its custodial support, in addition to Bitcoin and Ethereum. In early 2024, the business aims to add more coins to its custody services.