According to CoinMarketCap, nearly 186.38 trillion SHIB tokens held by 143,000 wallet addresses are currently underwater as the meme coin trades at $0.00001001. This is due to the rise of other meme coins such as Pepe (PEPE), which has caused a struggle for SHIB holders.

The key resistance level for Pepe at $0.00001011 has been rejected, which could provide relief for the 143,000 wallet addresses currently holding unrealized losses if SHIB's price breaks above this level. A successful break above this resistance level could potentially lead to a recovery and a bullish outlook for SHIB.

While SHIB has been facing difficulties, other meme coins have been delivering substantial profits for their holders. One such crypto is PEPE, which provided more than a 300% gain for its holders over the previous weekend. This, along with a massive increase in its 24-hour trading volume, made PEPE a strong challenger to its biggest rivals Dogecoin (DOGE) and SHIB in the meme coin category.

Despite the current situation of meme coins, SHIB has been able to maintain its popularity among U.S. traders, as per a recent study conducted by CoinGecko. The study revealed that SHIB accounted for 60.7% of U.S. interest in the meme coin category. 

Sources:

https://www.investing.com/news/cryptocurrency-news/60-of-us-traders-still-pick-shiba-inu-shib-over-pepe-pepe-3073146

https://coinedition.com/60-of-u-s-traders-still-pick-shiba-inu-shib-over-pepe-pepe/

https://finance.yahoo.com/news/pepe-coin-top-bull-millions-085326957.html

https://coinstats.app/coins/pepe/