June Bloodbath: 65% of SHIB Holders Underwater—When Will the Memecoin Rebound?

Another brutal month for Shiba Inu investors as losses pile up. June's data confirms what skeptics whispered all along—most SHIB buyers bought the hype, not the fundamentals.

The red ink spreads

Nearly two-thirds of SHIB addresses now sit on unrealized losses. The meme coin that roared like a lion in 2021 now whimpers like a shiba inu at the vet.

When moon?

With no major utility breakthroughs and institutional investors still treating memecoins like casino chips, the path to profitability looks steep. But in crypto, irrational exuberance has a way of repeating itself—just ask the bagholders from the last cycle.

Funny how 'community-driven projects' always seem to leave most of the community holding the bag. Maybe Wall Street suits aren't the only ones who can rig a game.

In brief

• 65% of SHIBA INU holders are currently at a loss.
• June is historically a bearish period for SHIB, with no positive closing in five years.
• CryptoRank confirms an average performance of -13.8% for SHIB in June, reinforcing the idea of a recurring negative cycle.
• CoinCodex anticipates a short-term increase of +8.8%, and +27.35% over one month, but these forecasts remain uncertain.

June, a historically red month for SHIB

While 590 million tokens were withdrawn from exchanges, the month of June continued to darken Shiba Inu’s history. According to data compiled by CryptoRank, “June is the only month of the year that has never experienced a positive monthly close since the token’s creation.”

For the fifth consecutive year, SHIB records negative performance during this period. With less than ten days left before the end of the month, the token is already down by more than 8%, suggesting another close in the red. A “well-established trend” that seems to condemn SHIB to repeat the same bearish cycles year after year.

The severity of past losses confirms this dynamic. In June 2024, SHIB had collapsed by -32.3%, resulting in a quarterly loss of -44.3% at the end of the second quarter. This June is part of a series, with a historically unfavorable second quarter for the token. The following figures illustrate the magnitude of the phenomenon:

• -13.8%: average performance of SHIB in June (CryptoRank);
• -11.5%: median performance over this period;
• 0 green Junes since the project was created (i.e., 5 consecutive years of decline);
• 4 out of 5 second quarters ended in loss;
• 2024: -32.3% in June and -44.3% for the quarter.

Facing these statistics, the market’s distrust towards SHIB in June is no longer superstition but a cold reading of historical data. The “cursed month” is no legend: it is a very real cycle that continues to penalize crypto investors.

65% of holders at a loss: a harsh reality for the SHIB community

The continuous drop in the SHIB price spares no one, and the latest data confirms the extent of the damage. 65% of SHIB holders are currently at a loss compared to their purchase price, against only 32% in profit, and 3% breaking even.

These on-chain data reveal a painful financial reality for hundreds of thousands of investors, many of whom joined the project during its peaks in popularity.

This imbalance does not only affect casual speculators. It also concerns a part of the historical community, convinced of the project’s resilience despite the absence of solid fundamentals.

This situation raises questions: why do so many crypto investors hold onto their tokens despite sometimes significant losses? Community attachment, fear of “selling at the bottom”, or hope for a rebound through announcements or overall market growth can explain this FORM of resilience, or blindness.

While the picture looks grim, some technical signals fuel a cautious optimism. The CoinCodex platform predicts a slight short-term rebound: “SHIB could reach $0.00001278 in the next 5 days, an 8.8% increase.”

Over a one-month horizon, projections go up to $0.00001496, or +27.35%. However, these estimates are based on mathematical models sensitive to volatility and should be taken with caution, especially in such an uncertain context.

The future of SHIB remains divisive. Some see it as a relic of the bull run, doomed to oblivion due to a lack of real utility. Others bet on an ecosystem evolution, through Shibarium or associated DeFi initiatives. However, in the short term, reality is ruthless: holders are massively in the red, and only a structural market reversal in crypto could change the trend.

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