During the recent market downturn, the cryptocurrency Shiba Inu (SHIB) has experienced very unfavorable conditions. Currently, the price of Shiba Inu has dropped to around $0.0000107, with only 5% of token holders in profit. Market sentiment has turned extremely negative, indicating no short-term opportunity for price recovery. Moreover, crossing important support levels has weakened Shiba’s price performance day by day. Market data shows Shiba’s price has gone below the $0.000012 support level and is approaching the next level at $0.000010. On-chain data also indicates a critical situation for holders of this cryptocurrency. More than 90% of addresses are at a loss, with only 5.7% in profit and 4.12% at breakeven. This widespread loss has put significant psychological pressure on investors. Statistics on the inflow and outflow of major investors’ addresses also indicate a sharp decrease in whale activity. In the past week, the outflow from these addresses has decreased by 80%, and the inflow has dropped by over 63%. This suggests that whales have either left the market or are not interested in buying at the current price floor, limiting Shiba’s recovery power. The strong correlation between Shiba’s price and negative market sentiments in the cryptocurrency market has added to the downward pressure. Analysts state that continued crypto market correction, concerns related to the global economy, and cautious sentiment stemming from the trade war have led to Shiba’s bearish outlook. If new capital does not enter the market or a serious uptrend does not begin, the possibility of further price decline exists. The main question now is whether Shiba can reclaim the $0.000012 level, which signals a technical strength return and can give hope to 90% of holders in loss. However, until then, Shiba’s situation will remain unstable.
