Shiba Inu (SHIB) has reached new lows after a sharp 65% drop from its peak earlier this year. Despite some big trading rallies, SHIB's technical analysis shows continued bearish pressure, with a lack of demand keeping its price down. In particular, only 48% of holders are profitable, while 73% of SHIB is concentrated in a few large holders, which deepens investors' woes.

Key Points

- Shiba Inu (SHIB) is down 65% from its highest point this year and is currently priced at around $0.00001584.

- The 50, 100 and 200-day exponential moving averages show continued bearish momentum.

- The number of recent trading activities has increased, but it is not enough to support a long-term rebound.

- Among the large holders, only 48% are profitable, 47% are facing losses, and 5% are flat.

- In the past 24 hours, 29 SHIB transactions occurred, with a total transaction volume of 1.15 trillion SHIB.

- The overall market sentiment is cautious. Despite the occurrence of large transactions, the overall decline has not been reversed.

- 73% of SHIB is held by a few large investors, indicating a high degree of market concentration.