SHIB is gaining followers while being under pressure: Retail investors are entering, but the price is still being 'hit'?

Recently, Shiba Inu (SHIB) resembles a 'highly popular yet unstable performer'—continuously attracting new users while the price remains under pressure, creating a mix of anticipation and frustration.

1. New wallets are continuously increasing, and retail enthusiasm has not waned.

Let's start with a positive signal: The number of users in the Shiba Inu ecosystem continues to grow steadily.

According to the Shibarium team's data, about 5,000 to 12,000 new wallets are added each month, with the total number of holding addresses exceeding 1.5 million. What does this indicate? Simply put—despite the price not performing ideally, retail interest has not faded.

This situation is not common in the crypto market. Many projects, once they enter a downward cycle, see user growth significantly stagnate, but SHIB can still continue to 'gain followers,' indicating that its community foundation remains solid.

In the long run, users are the foundation of demand. As the number of users increases, trading activity naturally rises, and the potential buying pressure in the market will gradually accumulate.

Second, the capital flow is not looking good: tokens are pouring into exchanges.

However, the short-term situation is not so optimistic.

On-chain data platform CryptoQuant shows that nearly 40 billion SHIB flowed into exchanges within the 24 hours ending on March 26, while the outflow was clearly lagging. This directly led to one result — a positive net inflow.

What does this usually mean? Simply put, it means that the 'potential selling pressure' in the market is increasing.

At the same time, the SHIB reserves on exchanges have risen from 81.20 trillion to 81.29 trillion. Although this change does not seem huge, the trend is very clear: more and more people are transferring coins to exchanges.

It is important to note that transferring coins to exchanges does not necessarily mean they will be sold immediately, but it at least indicates one thing — these chips can be sold at any time. Once market sentiment weakens, this 'standing selling pressure' may be released quickly.

Third, price trends are under pressure, and the technical aspect is not very friendly.

From the price performance, SHIB has indeed not been doing well during this period.

Within the same 24 hours, SHIB fell by about 4%. Although the entire crypto market is also weakening simultaneously, the technical aspect of #SHIB itself is not advantageous.

Analysts pointed out that SHIB previously attempted to break through the upper boundary of the 'descending triangle,' but ultimately failed. This pattern is often seen as a bearish signal in technical analysis, and a 'failed breakout' often exacerbates selling sentiment.

Simply put: the market was originally expecting a breakout to the upside, but the result was unsuccessful, which instead led more people to choose to exit.

This also explains why there is insufficient confidence in the short-term market, and traders are generally cautious.

Fourth, two forces are 'pulling' against each other: short-term selling pressure vs. long-term accumulation.

Currently, SHIB is actually in a very typical 'split state.'

On one hand, there is short-term selling pressure — a large number of tokens entering exchanges, weakening technicals, and price pressure;

On the other hand, there is the logic of long-term accumulation — new wallets continue to increase, user scale expands, and the ecosystem is still developing.

These two forces are like pulling the direction of the market.

In the short term, prices can easily be dominated by capital flows and sentiment; but over a longer period, user growth is often the key factor determining how far a project can go.

Five, how to view the situation next?

For SHIB, the market may focus on two key aspects next:

First, whether the capital flow of the exchange continues to maintain a net inflow. If selling pressure continues to accumulate, the short-term market may fluctuate.

Second, whether ecological growth can be translated into real demand. If new users are not just 'watching' but are truly participating in trading and usage, then the support for the price will gradually manifest.

In summary:

Currently, SHIB is both 'gaining followers' and 'under pressure.' It's not easy in the short term, but the long-term story is not over yet. As for which side will ultimately prevail, the market will gradually provide an answer.#BTC行情