Since reaching a peak of $0.0000176 on May 12, Shiba Inu (SHIB) has experienced a 33% drop, leading many holders to face unrealized losses, indicating market capitulation. According to Glassnode, SHIB's Net Unrealized Profit/Loss (NUPL) metric shows it is in the capitulation zone, where total unrealized losses surpass gains. This situation often leads to panic selling or distressed holding among investors. Currently, over 87.34% of SHIB holders are 'out of the money,' meaning their assets are worth less than their purchase price. Historically, negative NUPL readings signal the end of bearish cycles, often preceding price recoveries as holders wait for better conditions. Additionally, periods of capitulation can attract more resilient investors, potentially stabilizing prices. As of now, SHIB trades at $0.00001180, with resistance at $0.0000198. However, a continued decline could see prices drop to $0.00001105, compounded by a 92% decrease in burn rate, which may hinder price recovery without new demand. Read more AI-generated news on: https://app.chaingpt.org/news

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