【Is Shiba Inu (SHIB) in critical condition? All indicators are bearish]
Currently, indicators on multiple chains show that Shiba Inu Coin (SHIB) is in a risky position and the trend is unfavorable. Despite attempts to stabilize and rebound towards around $0.000014, SHIB has struggled to gain significant upward momentum.
After a deeper analysis of the on-chain data, the outlook seems quite pessimistic. First, only a small number of SHIB holders are able to make a profit, with 52% of holders currently in the red. This situation could increase selling pressure, which could lead to further price declines.
Additionally, Net Growth edged down 0.21%, a bearish sign that new user growth is stagnant or slowing, potentially hindering a rebound. A decrease in the user base usually results in less demand for the token, further depressing the price.
Another indicator shows that "large transactions" decreased by 4.95%, reflecting a decrease in whale activity, which means that large investors may be withdrawing or reducing their investment in SHIB.
Taken together, four of the five major indicators show negative trends, and the overall sentiment is generally pessimistic about SHIB, indicating that the token will continue to face difficulties.
