Shiba Inu (SHIB) is at risk of further price declines based on several on-chain metrics, signaling a bearish sentiment in the ecosystem. This could no doubt present a setback for the meme coin, which is showing signs of recovery following a significant price correction. 

根據多項鏈上指標，柴犬（SHIB）面臨價格進一步下跌的風險，這表明生態系統中存在看跌情緒。這無疑會給模因幣帶來挫折，在價格大幅調整後，模因幣正顯示出復甦的跡象。

Shiba Inu Network Growth Is On The Decline

According to data from the market intelligence platform IntoTheBlock, Shiba Inu’s net network growth has declined by 0.48%. This metric measures the total number of addresses holding the SHIB token, and a decline shows that some addresses have offloaded their tokens in the past week. 

柴犬網路成長下降根據市場情報平台IntoTheBlock的數據，柴犬網路成長下降了0.48%。該指標衡量持有 SHIB 代幣的地址總數，下降表明一些地址在過去一周卸載了代幣。

The ‘In The Money’ metric also signals a bearish sentiment in the SHIB ecosystem, with a 0.20% decline in the past week. This metric measures how many SHIB holders are in profit, and right now, it seems that most of them are at a loss with their SHIB holdings. However, this metric could quickly turn bullish again as SHIB moves to the upside.

相關閱讀：狗狗幣看漲分形回報。這對 DOGE 價格意味著什麼「價內」指標也顯示了 SHIB 生態系統的看跌情緒，過去一周下跌了 0.20%。該指標衡量有多少 SHIB 持有者盈利，而目前，他們中的大多數人似乎都因持有的 SHIB 虧損而虧損。然而，隨著 SHIB 上漲，這一指標可能很快就會再次轉為看漲。

The number of large transactions on the network is another metric highlighting the bearish sentiment in the SHIB ecosystem. Data from IntoTheBlock shows that whale activity on the network has declined by over 10% this past week. In this context, a large transaction refers to one of over $100,000, meaning that whales’ activity on the network has cooled off. 

網路上的大額交易數量是另一個凸顯 SHIB 生態系中看跌情緒的指標。 IntoTheBlock 的數據顯示，過去一週網路上的鯨魚活動下降了 10% 以上。在這種情況下，大額交易指的是超過 10 萬美元的交易，這意味著鯨魚在網路上的活動已經降溫。

The decline in this metric is concerning, considering that Shiba Inu whales reportedly hold 73% of the token’s circulating supply and play a major role in SHIB’s price discovery. Meanwhile, the cool-off in whale activity on the network is also evident in the ‘Concentration’ metric, which is neither bullish nor bearish at the moment, according to IntoTheBlock’s data.

考慮到據報道柴犬鯨魚持有該代幣流通供應量的 73%，並在 SHIB 的價格發現中發揮重要作用，這一指標的下降令人擔憂。同時，根據 IntoTheBlock 的數據，網路上鯨魚活動的降溫在「集中度」指標中也很明顯，目前該指標既不看漲也不看跌。

The Concentration metric measures daily changes in the position of whales, meaning that SHIB whales are currently opting against accumulating more of the meme coin in their portfolio. 

集中度指標衡量鯨魚位置的每日變化，這意味著 SHIB 鯨魚目前選擇不在其投資組合中累積更多迷因幣。

The Silver Lining

Data from IntoTheBlock shows that the ‘Bid-Ask Volume Imbalance’ is currently bullish, suggesting that SHIB investors are again accumulating the meme coin. This is a positive development as the buy orders can help trigger a surge in SHIB’s price. Moreover, the other on-chain signals could again turn bullish following an increase in SHIB’s value. 

IntoTheBlock 的一線希望數據顯示，「買賣量失衡」目前看漲，顯示 SHIB 投資者正在再次累積迷因幣。這是一個積極的進展，因為買單有助於引發 SHIB 價格的飆升。此外，隨著 SHIB 價值的上漲，其他鏈上訊號可能會再次轉為看漲。

It is also worth noting that the overall outlook for the SHIB token remains bullish. Several crypto analysts predict that the meme coin will be among the leading gainers in this market cycle. Crypto analysts like Altcoin Sherpa have even predicted that SHIB could eventually replace Dogecoin (DOGE) as the most valuable meme coin. 

相關閱讀：一位加密貨幣交易者如何在以太坊 L2 網路上將 100 美元變成 830 萬美元還值得注意的是，SHIB 代幣的整體前景仍然看漲。幾位加密貨幣分析師預測，迷因幣將成為本市場週期的主要贏家之一。 Altcoin Sherpa 等加密貨幣分析師甚至預測 SHIB 最終可能取代狗狗幣（DOGE）成為最有價值的迷因幣。

At the time of writing, SHIB is trading at around $0.00002667, up in the last 24 hours according to data from CoinMarketCap. 

根據 CoinMarketCap 的數據，截至撰寫本文時，SHIB 的交易價格約為 0.00002667 美元，在過去 24 小時內上漲。

SHIB lingers at $0.000026 | Source: SHIBUSDT on Tradingview.com

SHIB 徘徊在 0.000026 美元 |資料來源：Tradingview.com 上的 SHIBUSDT 特色圖片來自 Analytics Insight，圖表來自 Tradingview.com