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As on-chain data shows, nearly half of its investors lose their money Shiba Inu He is currently going through a difficult period. Only 53% of SHIB holders have money or profitable investments currently, while 43% lose money, according to profitability metrics.
Concerns regarding the course of the asset and market dynamics are not random, as profitability is one of the main reflections of the situation in the market. Signals on the chain of Gray It also presents a negative outlook. The number of large transactions has fallen by 60.9% over the past seven days, according to metrics such as net network growth. Given that whales and institutions are usually the main drivers of upward price movements, this decline indicates a decline in their activity.
In addition, the asset remains vulnerable to significant price fluctuations due to the 73% concentration of holdings of major players. As can be seen from the market chart, SHIB has pulled back significantly from its previous highs and is currently trading near the 100 EMA, a crucial support level. If this level is broken, additional losses may occur, and the black 200 EMA may be tested. On the other hand, the resistance at $0.000023 remains crucial.
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A break above this level could revive bullish sentiment, but given the state of the market and sentiment, such a move may not happen anytime soon. Declining network growth, which indicates fewer new wallet activations, is another worrying indicator. This indicates that there is little interest from new investors, which is important to maintain the growing momentum in the speculative market Gray. Additionally, there is a slight decline in Telegram community metrics, indicating a decline in community enthusiasm and engagement.
A shift in market sentiment is required for SHIB to get back on track. This may manifest itself in a return of whale activity, a strong expansion in the network, or a breach of significant resistance levels. The best course of action for those who still own SHIB may be cautious optimism until then. SHIB's short-term future can be determined by the $0.000020 and $0.000023 price areas, so investors should watch them closely.
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