Cointime

Cointime

Download App
iOS & Android
Home / Point

IntoTheBlock ：Shiba Inu Token Faces Major Setback as Over 90% of Tokens Incur Losses

The Shiba Inu token, a popular cryptocurrency, is experiencing a major setback as over 90% of its total supply is currently causing losses to its holders. This amounts to a staggering 500 trillion tokens causing losses, worth approximately $3.77 billion.

The majority of these loss-bearing tokens were acquired within the price range of $0.000008 to $0.00002 per token. This trend presents a negative outlook for the Shiba Inu token, as even a small number of owners offloading their holdings could trigger a substantial downturn.

Cryptocurrency
Comments

All Comments

Recommended for you

  • Vivek Ramaswamy X's account was hacked, and the cooperation with USUAL was fake news

    Vivek Ramaswamy, who co-leads the US government efficiency department with Musk, confirmed that his X account was hacked and false news about cooperation with USUAL was previously released.

  • Binance Alpha announces first batch of projects: KOMA, Cheems, APX, ai16z, and AIXBT

    according to official sources, Binance Alpha has announced its first batch of projects, which are: KOMA, Cheems, APX, ai16z, and AIXBT.

  • ZachXBT: X platform account leakage may be related to the lack of 2FA security measures

    blockchain detective ZachXBT wrote: "Recently, there have been many account leak incidents on X platform. I suspect that these accounts did not use secure keys or identity verification programs for 2FA."

  • South Korea's Constitutional Court will hold its first hearing on the impeachment case of Yoon Seok-yeol on December 27

    a spokesperson for the South Korean Constitutional Court stated that the court will hold its first hearing on the impeachment case of Yoon Seok-yeol on December 27th. (Jinshi)

  • FASB's fair value accounting standard for Bitcoin officially takes effect today

    On December 16th, according to The Bitcoin Historian, an editor at Bitcoin Magazine, the fair value accounting standards for Bitcoin by the Financial Accounting Standards Board (FASB) officially took effect. Previously, companies could only measure their held Bitcoin assets by historical cost and could not reflect their market value growth. The new standard allows companies to use fair value measurement methods to more accurately reflect the actual value of their Bitcoin assets, which will reduce accounting barriers for companies to include Bitcoin on their balance sheets. MicroStrategy founder Michael Saylor previously stated that FASB has officially passed fair value accounting rules for Bitcoin, which will apply to fiscal years beginning after December 15, 2024. This improvement will encourage companies to adopt Bitcoin as a reserve asset.

  • Musk's lawyer accused the SEC of improper investigation of Musk and his affiliated companies and demanded that the source of the instructions be made public

    On December 13th, Musk tweeted, "Gary Gensler, how could you do this to me?" along with a screenshot of an email from Musk's lawyer to Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC). The email, sent by Quinn Emanuel law firm on behalf of Musk, strongly criticized the SEC's improper investigation of Musk and his affiliated companies. SEC commissioners have issued a final ultimatum to Musk to accept a settlement within 48 hours, or face multiple charges, claiming that this action was taken based on instructions from superiors. At the same time, the letter mentioned that the SEC has reopened its investigation into Neuralink, a company owned by Musk, indicating that the SEC's actions have gone beyond seeking the truth and instead are targeted behavior based on improper motives.

  • The market value of the meme coin related to the murder suspect of the US insurance giant CEO has risen to 77 million US dollars

     DL News, the suspect in the murder of UnitedHealthcare CEO Brian Thompson has attracted the attention of cryptocurrency users. After the insurance executive was murdered on December 4 and a large-scale search operation was launched by the police, bettors on the Polymarket cryptocurrency prediction platform invested $500,000. At the same time, the price of Meme coin related to the details of the search operation skyrocketed. A Meme coin named after the criminal suspect Luigi Mangione's name soared to a market value of $77 million, then fell to about $17 million (currently rising to $20.7 million). DL News stated that this Meme coin surge highlights the dark side of Meme culture.

  • Poland arrests former CEO of Russian CEX WEX and will extradite him to the US

    On December 9th, according to Reuters and Polish media Rzeczpospolita, Polish authorities arrested Dmitry V, former CEO of Russian cryptocurrency exchange WEX, in the center of Warsaw. He is accused of fraud and money laundering during his time managing WEX, which collapsed in 2018.

  • ZachXBT: Suspected insiders made $3.8 million in profits on RTR

    On August 10th, Chain Detective ZachXBT posted on social media that 4 addresses made a profit of $3.8 million in the RTR sell-off, with the 9G1ELG and GHoW2 addresses belonging to the same person and receiving 500 SOL in new funds within minutes after the TGE. Previously, it was reported that Restore The Republic (RTR) had its TGE on the evening of August 8th, with rumors circulating in the community that it was related to a new project by the Trump family. The RTR token reached a high of $0.156 on August 9th at midnight. Afterwards, Eric Trump, the current Executive Vice President of the Trump Organization and son of Donald Trump, warned on social media to "be careful of false tokens" and that the only official Trump project has yet to be announced and will be announced on Twitter first. After the statement was released, RTR quickly dropped by about 95%, with a trading volume of $164 million within just 15 hours of its creation.

  • The U.S. Internal Revenue Service has released a new draft of the crypto tax form, which no longer requires filling in wallet addresses and transaction IDs

    The US Internal Revenue Service (IRS) released an updated draft version of tax form 1099-DA for cryptocurrency brokers and investors to report certain transaction income. The public has 30 days to provide feedback to the IRS on this version. Starting in 2026, cryptocurrency investors who use brokers (currently mainly Coinbase and Kraken, among others) will receive 1099-DAs from these brokers to report certain cryptocurrency sales and trades as taxable events to the IRS. IRS officials say this form will "bring more convenience and clarity" to users who pay US cryptocurrency taxes.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company