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As on-chain data shows, almost half of its investors are losing money as Shiba Inu is currently going through a difficult period. Only 53% of SHIB holders are in the money or have profitable investments at the moment, while 43% are losing money, according to profitability metrics. 

Concerns regarding the asset's trajectory and market dynamics are not random, as profitability is one of the main reflections of the situation on the market. The on-chain signals from SHIB also present a negative outlook. The number of large transactions has decreased by 60.9% over the last seven days, according to metrics like net network growth. Given that whales and institutions are typically the main drivers of bullish price movements, this decline points to a decline in their activity. 

Additionally, the asset is still vulnerable to large price swings because of the 73% concentration of holdings by major players. As can be seen from the market chart, SHIB has pulled back considerably from its previous highs and is currently trading close to the 100 EMA, a crucial support level. If this level is broken, additional losses might occur, possibly putting the black 200 EMA to the test. Resistance at $0.000023, on the other hand, is still crucial. 

A break above this level might rekindle bullish sentiment, but given the state of the market and sentiment, this move might not happen anytime soon. The waning network growth, which indicates fewer new wallet activations, is another alarming indicator. This suggests that there is little interest from new investors, which is important for maintaining increasing momentum in a market as speculative as SHIB. Additionally, there is a slight drop in Telegram community metrics, which indicates a decline in community enthusiasm and engagement. 

A shift in market sentiment is required for SHIB to get back on track. This might manifest as a resurgence of whale activity, strong network expansion or a breach of significant resistance levels. The best course of action for those who still own SHIB may be cautious optimism until then. SHIB's short-term future may be determined by the $0.000020 and $0.000023 price zones, so investors should keep a close eye on them.