儘管有持續活動的跡象，但Shiba INU（Shib）還是陷入表現不佳的螺旋中。

與在其他山寨幣中觀察到的恢復相反，令牌在歷史上顯示出較低的盈利率，這表明其市場結構存在嚴重的失衡。

Shiba Inu (CRYPTO: SHIB) is known for its sustained activity, yet it seems to be sinking into a spiral of underperformance. Unlike other altcoins that have shown signs of recovery, the token has seen a historically low profitability rate, revealing a deep imbalance in its market structure.

Shiba Inu（加密：Shib）以其持續活動而聞名，但似乎陷入了表現不佳的螺旋式螺旋式。與其他顯示出恢復跡象的山寨幣不同，該令牌在歷史上盈利率低，揭示了其市場結構的嚴重失衡。

This stark contrast between apparent excitement and massive losses raises a simple question: what is really happening behind the numbers?

明顯的興奮與巨大損失之間的這種鮮明的對比提出了一個簡單的問題：數字背後發生了什麼？

Shiba Inu Profitability Reaches A Historic Low

Shiba INU的盈利能力達到了歷史性的低

The profitability of Shiba Inu is collapsing. Indeed, only 10.62% of addresses holding SHIB are currently profitable, representing about 104.6 trillion tokens, valued at 1.28 billion dollars.

什巴INU的盈利能力正在崩潰。實際上，目前只有10.62％的持有SHIB的地址為104.6萬億代幣，價值12.8億美元。

On the other side, 85.5% of holders, or 842.2 trillion SHIB, are at a loss, with a valuation of 10.29 billion dollars.

另一方面，85.5％的持有人或842.2萬億的芯片虧本，估值為102.9億美元。

Such a low proportion of profitable wallets has never been observed before, indicating the magnitude of the drop-off.

以前從未觀察到如此低的盈利錢包，表明下降的幅度。

Here are the key data extracted from the analysis:

這是從分析中提取的關鍵數據：

These figures reflect a deep imbalance in position distribution. The majority of investors are stuck in positions bought at higher levels. As long as SHIB fails to break the 0.000012 $ resistance, profitability prospects will remain low, with underlying selling pressure.

這些數字反映了位置分佈的嚴重失衡。大多數投資者被困在更高水平購買的職位上。只要SHIB未能打破0.000012 $的電阻，盈利能力的前景將保持較低，銷售壓力是基本的。

Whale Activity And Massive Burn: Towards A SHIB Turnaround?

鯨魚活動和巨大的燒傷：朝著濕骨轉變？

While SHIB profitability collapses, other indicators suggest a possible medium-term turning point. Transactions from large addresses, known as “whales”, increased by 173% over 24 hours, just before the token reached the technical threshold of 0.000012 $.

儘管SHIB的盈利能力崩潰，但其他指標表明可能是中期轉折點。在代幣達到0.000012 $的技術閾值之前，來自大型地址的交易（稱為“鯨魚”）在24小時內增加了173％。

More than 1.3 trillion SHIB were traded in a single day, highlighting unusual activity among major players in the crypto market. This dynamic could reflect an opportunistic accumulation strategy or, conversely, upstream redistribution ahead of an anticipated pullback.

一天內交易了超過1.3萬億的芯片，突出了加密貨幣市場中主要參與者的異常活動。這種動態可能反映了機會主義的積累策略，或者相反，在預期的回調之前上游重新分配。

Meanwhile, the burn rate has exploded. On April 19, 2025, the ShibTorch platform burned over 881 million SHIB, a spectacular 3,277% increase in just one day. Such an initiative helps reduce circulating supply, potentially having a bullish effect long term if demand follows.

同時，燃燒率爆炸了。 2025年4月19日，Shibtorch平台燃燒了超過8.81億個芯片，僅一天就增長了3,277％。這樣的倡議有助於減少循環供應，如果需求隨之而來，可能會長期產生看漲的效果。

This level of activity from the ShibTorch burner is one of the highest ever recorded, suggesting some project actors are seeking to restore a balance between speculation and fundamentals.

Shibtorch燃燒器的這種活動水平是有史以來最高的活動之一，這表明某些項目參與者正在尋求恢復投機和基本面之間的平衡。

In the short term, this dual dynamic—between whale activity and supply reduction—may not be enough to reverse the trend as long as technical resistances remain unbroken. However, in the medium term, these signals suggest a willingness to reposition SHIB on more solid grounds, thanks to the revaluation of its tokenomics. If the burn continues and accumulation persists, a bullish breakout could occur. The question remains whether the crypto market will respond with the same vigor.

在短期內，這種雙重動態（在鯨魚活動和減少供應之間）可能不足以扭轉趨勢，只要技術電阻保持不變即可。但是，在中期，這些信號表明，由於其標記學的重估，這些信號願意以更穩固的理由重新定位shib。如果燃燒繼續持續並累積，可能會發生看漲的突破。問題是加密貨幣市場是否會以同樣的活力做出反應。