Shiba Inu (SHIB) Spikes 15% Weekly So Why Are Most Holders Still Losing?

Shiba Inu (SHIB) has increased in price by 15% over the past week, trading around $0.00001445. Despite this rise, a majority (54%) of SHIB holders are still experiencing unrealized losses, meaning they are holding the asset at a price lower than what they initially paid. Many investors bought SHIB more than a year ago when prices were significantly higher, with the coin currently trading 83% below its all-time high reached in November 2021. Some analysts believe the recent price increase could be the start of a larger upward trend, supported by data showing a decrease in the amount of SHIB held on exchanges, which could reduce selling pressure. However, other indicators suggest that SHIB might be overbought and could experience a short-term price decrease.