Recently, the Crypto Assets market has experienced a pullback, and the performance of SHIB coin has been particularly weak. Continuous declines over the past two days have caused the SHIB price to fall to $0.000012402, with a seven-day decline of nearly 10%. Currently, SHIB is testing the key support level of $0.000012, and if it breaks below this level, it may further dip to $0.000010.

The monthly fall of SHIB has expanded to 20%, significantly weaker than other similar meme coins. Nevertheless, some interesting trends have emerged in the market. On-chain data shows that a newly created address withdrew 110.3 billion SHIB from Binance, worth approximately $1.45 million, which has sparked speculation in the market about the possibility of a whale accumulating at low levels.

At the same time, the destruction rate of SHIB has risen to a historical high, demonstrating the community's continued efforts to reduce the token supply. However, these positive factors seem difficult to offset the overall sluggish market sentiment, as the trading volume of SHIB has shrunk by 14%, reflecting investors' wait-and-see attitude.

From the perspective of the ecosystem, although the transaction volume of the Shibarium blockchain has surpassed the milestone of 1 billion transactions, there has been no significant substantive progress recently. Despite the number of SHIB holders exceeding one million, it still seems powerless in the face of continuous capital outflow pressure.

To reverse the current situation, the SHIB community may need to accelerate the token burn process or anticipate favorable regulatory policies. At the same time, the development team also needs to launch more practical applications in the Shibarium ecosystem to enhance the intrinsic value and market appeal of SHIB.

The current crypto market is generally in a pullback phase, and SHIB, as a high volatility asset, has a price trend that is worth close attention from investors. When making investment decisions, one should fully consider market risks and act cautiously in conjunction with personal risk tolerance.