尽管有持续活动的迹象，但Shiba INU（Shib）还是陷入表现不佳的螺旋中。

与在其他山寨币中观察到的恢复相反，令牌在历史上显示出较低的盈利率，这表明其市场结构存在严重的失衡。

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）以其持续活动而闻名，但似乎陷入了表现不佳的螺旋式螺旋式。与其他显示出恢复迹象的山寨币不同，该令牌在历史上盈利率低，揭示了其市场结构的严重失衡。

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

明显的兴奋与巨大损失之间的这种鲜明的对比提出了一个简单的问题：数字背后发生了什么？

Shiba Inu Profitability Reaches A Historic Low

Shiba INU的盈利能力达到了历史性的低

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的盈利能力正在崩溃。实际上，目前只有10.62％的持有SHIB的地址为104.6万亿代币，价值12.8亿美元。

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842.2万亿的芯片亏本，估值为102.9亿美元。

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

以前从未观察到如此低的盈利钱包，表明下降的幅度。

Here are the key data extracted from the analysis:

这是从分析中提取的关键数据：

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.

这些数字反映了位置分布的严重失衡。大多数投资者被困在更高水平购买的职位上。只要SHIB未能打破0.000012 $的电阻，盈利能力的前景将保持较低，销售压力是基本的。

Whale Activity And Massive Burn: Towards A SHIB Turnaround?

鲸鱼活动和巨大的烧伤：朝着湿骨转变？

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 $.

尽管SHIB的盈利能力崩溃，但其他指标表明可能是中期转折点。在代币达到0.000012 $的技术阈值之前，来自大型地址的交易（称为“鲸鱼”）在24小时内增加了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.

一天内交易了超过1.3万亿的芯片，突出了加密货币市场中主要参与者的异常活动。这种动态可能反映了机会主义的积累策略，或者相反，在预期的回调之前上游重新分配。

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.

同时，燃烧率爆炸了。 2025年4月19日，Shibtorch平台燃烧了超过8.81亿个芯片，仅一天就增长了3,277％。这样的倡议有助于减少循环供应，如果需求随之而来，可能会长期产生看涨的效果。

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燃烧器的这种活动水平是有史以来最高的活动之一，这表明某些项目参与者正在寻求恢复投机和基本面之间的平衡。

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.

在短期内，这种双重动态（在鲸鱼活动和减少供应之间）可能不足以扭转趋势，只要技术电阻保持不变即可。但是，在中期，这些信号表明，由于其标记学的重估，这些信号愿意以更稳固的理由重新定位shib。如果燃烧继续持续并累积，可能会发生看涨的突破。问题是加密货币市场是否会以同样的活力做出反应。