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. 

根据多项链上指标，柴犬（SHIB）面临价格进一步下跌的风险，这表明生态系统中存在看跌情绪。这无疑会给模因币带来挫折，在价格大幅调整后，模因币正显示出复苏的迹象。

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. 

柴犬网络增长下降根据市场情报平台IntoTheBlock的数据，柴犬网络增长下降了0.48%。该指标衡量持有 SHIB 代币的地址总数，下降表明一些地址在过去一周卸载了代币。

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.

相关阅读：狗狗币看涨分形回报。这对 DOGE 价格意味着什么“价内”指标也表明了 SHIB 生态系统的看跌情绪，过去一周下跌了 0.20%。该指标衡量有多少 SHIB 持有者盈利，而目前，他们中的大多数人似乎都因持有的 SHIB 亏损而亏损。然而，随着 SHIB 上涨，这一指标可能很快再次转为看涨。

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. 

网络上的大额交易数量是凸显 SHIB 生态系统中看跌情绪的另一个指标。 IntoTheBlock 的数据显示，过去一周网络上的鲸鱼活动下降了 10% 以上。在这种情况下，大额交易指的是超过 10 万美元的交易，这意味着鲸鱼在网络上的活动已经降温。

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.

考虑到据报道柴犬鲸鱼持有该代币流通供应量的 73%，并在 SHIB 的价格发现中发挥着重要作用，这一指标的下降令人担忧。与此同时，根据 IntoTheBlock 的数据，网络上鲸鱼活动的降温在“集中度”指标中也很明显，目前该指标既不看涨也不看跌。

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. 

集中度指标衡量鲸鱼位置的每日变化，这意味着 SHIB 鲸鱼目前选择不在其投资组合中积累更多模因币。

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 的一线希望数据显示，“买卖量失衡”目前看涨，表明 SHIB 投资者正在再次积累模因币。这是一个积极的进展，因为买单有助于引发 SHIB 价格的飙升。此外，随着 SHIB 价值的上涨，其他链上信号可能会再次转为看涨。

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. 

相关阅读：一位加密货币交易者如何在以太坊 L2 网络上将 100 美元变成 830 万美元还值得注意的是，SHIB 代币的整体前景仍然看涨。几位加密货币分析师预测，模因币将成为本市场周期的主要赢家之一。 Altcoin Sherpa 等加密货币分析师甚至预测 SHIB 最终可能取代狗狗币（DOGE）成为最有价值的模因币。

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

根据 CoinMarketCap 的数据，截至撰写本文时，SHIB 的交易价格约为 0.00002667 美元，在过去 24 小时内上涨。

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

SHIB 徘徊在 0.000026 美元 |资料来源：Tradingview.com 上的 SHIBUSDT 特色图片来自 Analytics Insight，图表来自 Tradingview.com