<p><strong>柴犬币的价格经历了艰难的一年。该代币年初至今下跌近 70%，较历史最高点下跌超过 90%。随着对迷因币的兴趣减退，许多人开始质疑 SHIB 是否正在缓慢消亡。</strong></p>
<p>这种担忧在 CryptoQuant 首席执行官 Ki Young Ju 表示迷因币 “已经死去” 后愈发加剧，他提到其主导地位崩溃和投机活动减少。从表面上看，柴犬币似乎符合这一叙述。但链上数据为这个故事增添了更多层次。</p>
<h2>迷因币的疲软是真实的，柴犬币反映了这一点</h2>
<p>更广泛的迷因币市场显然已经疲软。CryptoQuant 的数据表明，迷因币的主导地位已降至 2024 年初的低点，表明替代币的投机活动减少。</p>
<blockquote>
<p>迷因币市场已经死去。 pic.twitter.com/6kymLWH4JX</p>
<p>— Ki Young Ju (@ki_young_ju) 2025 年 12 月 11 日</p>
</blockquote>
<p>柴犬币反映了这一趋势。价格一直处于长期阻力位之下，反弹未能维持。追踪经验丰富和活跃交易者的钱包（智能资金钱包）在整个年度内稳步减少了对 SHIB 的持有。</p>
<p>这表明交易者并未为短期反弹进行布局。简单来说，知情交易者并不依赖于价格飙升，更不用说反弹了。</p>
<p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/rPiRcqwMflYYalVCZGXzWg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQwNQ--/https://media.zenfs.com/en/beincrypto_us_662/5d200378cb8454d34b0c222287628749?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/rPiRcqwMflYYalVCZGXzWg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQwNQ--/https://media.zenfs.com/en/beincrypto_us_662/5d200378cb8454d34b0c222287628749"/></p>
<p>持有 SHIB 一年以上的投资者：Nansen</p>
<p><em><strong>想要获取更多这样的代币见解？请在这里注册编辑 Harsh Notariya 的每日加密货币通讯。</strong></em></p>
<p>最近的一部分衍生品数据进一步强化了这一观点。在过去 30 天中，大多数永续合约交易者减少了持仓。除了最大的地址外，杠杆仍然较轻。这表明交易者谨慎，并不期待快速或爆炸性的走势。</p>
<p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/KCQzrFppPWpP6fDSwckCIQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMg--/https://media.zenfs.com/en/beincrypto_us_662/702a02606d4cf29c691709f32e96aead?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/KCQzrFppPWpP6fDSwckCIQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMg--/https://media.zenfs.com/en/beincrypto_us_662/702a02606d4cf29c691709f32e96aead"/></p>
<p>衍生品持仓：Nansen</p>
<p>简单来说，投机活动已经枯竭。这支持了迷因币不再像以前那样推动市场的观点。但投机只是方程式的一部分。</p>
<h2>大户和持有者持续增加，代币离开交易所</h2>
<p>尽管价格走势疲软，但长期行为却讲述了不同的故事。</p>
<p>柴犬币的持有者数量（追踪持有 SHIB 的钱包数量）在全年持续上升。从约 146 万开始，增长至大约 154 万。尽管增长并不平稳，但趋势依然向好，即使价格大幅下跌。</p>
<p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/1JwejykeW1mqSs_x.p7ETQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUyNQ--/https://media.zenfs.com/en/beincrypto_us_662/c1ee88a83d882d53278f0608f67ec48d?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/1JwejykeW1mqSs_x.p7ETQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUyNQ--/https://media.zenfs.com/en/beincrypto_us_662/c1ee88a83d882d53278f0608f67ec48d"/></p>
<p>持有者持续增加：Santiment</p>
<p>大户的数据更为引人注目。</p>
<p>根据之前分享的图像，过去一年中，大户的 SHIB 余额增加了约 249%。超级大户的余额增加了约 28.5%。与此同时，交易所的余额（显示在交易平台上的代币数量）减少了近 22%。交易所上的代币减少通常意味着即时卖压减轻。</p>
<p>这一趋势最近加速。在过去 30 天中，大户的余额增加了超过 61%，而大多数交易所的流出发生在同一时期。</p>
<p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/Ty3ROhnQXhoVIbiFIHSiVA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMQ--/https://media.zenfs.com/en/beincrypto_us_662/5514c685e618a15d7a1c58c08376c6ba?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/Ty3ROhnQXhoVIbiFIHSiVA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMQ--/https://media.zenfs.com/en/beincrypto_us_662/5514c685e618a15d7a1c58c08376c6ba"/></p>
<p>最近的 SHIB 持有情况：Nansen</p>
<p>这看起来并不是恐慌或放弃，而是缓慢的积累。</p>
<p>然而，重要的是要注意，衍生品交易者并没有参与其中。除了顶级地址外，杠杆持仓仍然较低。大户似乎早早进入，但并不激进。</p>
<h2>柴犬币价格结构仍然疲弱，但反转形态正在出现</h2>
<p>SHIB 的价格走势依然脆弱，但并非绝望。</p>
<p>在三日图上，柴犬币交易在一个长期下行楔形内，这一形态通常在价格向上突破时会转为看涨。最近，一个关键信号出现了。</p>
<p>在 12 月 3 日至 12 月 12 日之间，柴犬币的价格创下了更低的低点，而相对强弱指数（RSI）这一动量指标却创下了更高的低点。这一看涨背离表明卖压正在减弱，提高了趋势反转的可能性。</p>
<p>关键水平现在比叙述更为重要。</p>
<p>第一个阻力位在$0.0000092 附近。若能干净突破这一水平，将标志着自 9 月以来限制价格的上行趋势线的突破。如果确认，下一阻力区间在$0.000010、$0.000011 和$0.000014 附近，这与最后一个主要的波动高点相符。请注意，只有突破$0.0000092 的水平才能完全否定 “死币” 的说法。</p>
<p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/sOT9ZdGbVOepxSjTepkYWA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwNQ--/https://media.zenfs.com/en/beincrypto_us_662/ac7d97e1f877d664fea623fb174e39d5?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/sOT9ZdGbVOepxSjTepkYWA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwNQ--/https://media.zenfs.com/en/beincrypto_us_662/ac7d97e1f877d664fea623fb174e39d5"/></p>
<p>柴犬币价格分析：TradingView</p>
<p>在下行方面，结构在$0.0000075 以下变得脆弱。若持续低于该水平，将使反转形态失效，并重新开启下行风险。</p>
<p>柴犬币并没有死去，但也并不强劲。投机活动消失，交易者保持谨慎，快速获利的可能性不大。尽管如此，持有者数量上升、大户大量积累以及交易所余额下降表明该链远未被遗弃。</p>
<p>如果替代币周期回归，柴犬币仍有复苏的路径。目前，它仍处于生存模式，等待更强的确认。</p>
<p>阅读原文故事《柴犬币会在 2026 年消亡吗？链上数据给出答案》，作者 Ananda Banerjee，来源于 beincrypto.com</p>

<p>柴犬币的价格大幅下跌，引发了对其未来的担忧。尽管市场趋势疲软，但链上数据显示持有者数量和鲸鱼的积累在增加，这暗示着复苏的潜力。虽然投机活动有所减少，但关键阻力位可能表明看涨反转的迹象。柴犬币并没有消亡，而是处于生存模式，等待更强的市场确认</p>

<p><strong>Shiba Inu price has had a rough year. The token is down nearly 70% year-on-year and more than 90% from its all-time high. With meme coin interest fading, many now question whether SHIB is slowly dying.</strong></p>
<div class="lb-trans"><p><strong>柴犬币的价格经历了艰难的一年。该代币年初至今下跌近 70%，较历史最高点下跌超过 90%。随着对迷因币的兴趣减退，许多人开始质疑 SHIB 是否正在缓慢消亡。</strong></p>
</div><p>That concern grew after CryptoQuant CEO Ki Young Ju said meme coins are “dead,” citing collapsing dominance and shrinking speculation. On the surface, Shiba Inu seems to fit that narrative. But on-chain data adds more layers to the story.</p>
<div class="lb-trans"><p>这种担忧在 CryptoQuant 首席执行官 Ki Young Ju 表示迷因币 “已经死去” 后愈发加剧，他提到其主导地位崩溃和投机活动减少。从表面上看，柴犬币似乎符合这一叙述。但链上数据为这个故事增添了更多层次。</p>
</div><h2>Meme Coin Weakness Is Real, and Shiba Inu Reflects It</h2>
<div class="lb-trans"><h2>迷因币的疲软是真实的，柴犬币反映了这一点</h2>
</div><p>The broader meme coin market has clearly weakened. CryptoQuant data shows meme coin dominance has fallen to early-2024 lows, signaling reduced speculative activity across altcoins.</p>
<div class="lb-trans"><p>更广泛的迷因币市场显然已经疲软。CryptoQuant 的数据表明，迷因币的主导地位已降至 2024 年初的低点，表明替代币的投机活动减少。</p>
</div><blockquote>
<p>Memecoin markets are dead. pic.twitter.com/6kymLWH4JX</p>
<p>— Ki Young Ju (@ki_young_ju) December 11, 2025</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>迷因币市场已经死去。 pic.twitter.com/6kymLWH4JX</p>
<p>— Ki Young Ju (@ki_young_ju) 2025 年 12 月 11 日</p>
</blockquote>
</div><p>Shiba Inu mirrors that trend. Price has stayed under long-term resistance, and rallies have failed to hold. Smart money wallets, which track experienced and active traders, have steadily reduced SHIB exposure throughout the year.</p>
<div class="lb-trans"><p>柴犬币反映了这一趋势。价格一直处于长期阻力位之下，反弹未能维持。追踪经验丰富和活跃交易者的钱包（智能资金钱包）在整个年度内稳步减少了对 SHIB 的持有。</p>
</div><p>That suggests traders are not positioning for short-term rebounds. Simply put, informed traders are not relying on price surges, let alone rallies.</p>
<div class="lb-trans"><p>这表明交易者并未为短期反弹进行布局。简单来说，知情交易者并不依赖于价格飙升，更不用说反弹了。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/rPiRcqwMflYYalVCZGXzWg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQwNQ--/https://media.zenfs.com/en/beincrypto_us_662/5d200378cb8454d34b0c222287628749" alt="" original-src="https://s.yimg.com/ny/api/res/1.2/rPiRcqwMflYYalVCZGXzWg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQwNQ--/https://media.zenfs.com/en/beincrypto_us_662/5d200378cb8454d34b0c222287628749"/></p>
<p>Year-Long SHIB Holders: Nansen</p>
<div class="lb-trans"><p>持有 SHIB 一年以上的投资者：Nansen</p>
</div><p><em><strong>Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.</strong></em></p>
<div class="lb-trans"><p><em><strong>想要获取更多这样的代币见解？请在这里注册编辑 Harsh Notariya 的每日加密货币通讯。</strong></em></p>
</div><p>A recent chunk of derivatives data reinforces this view. Over the past 30 days, most perpetual futures traders have cut exposure. Outside of the largest addresses, leverage remains light. This shows traders are cautious and not expecting a fast or explosive move.</p>
<div class="lb-trans"><p>最近的一部分衍生品数据进一步强化了这一观点。在过去 30 天中，大多数永续合约交易者减少了持仓。除了最大的地址外，杠杆仍然较轻。这表明交易者谨慎，并不期待快速或爆炸性的走势。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/KCQzrFppPWpP6fDSwckCIQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMg--/https://media.zenfs.com/en/beincrypto_us_662/702a02606d4cf29c691709f32e96aead" alt="" original-src="https://s.yimg.com/ny/api/res/1.2/KCQzrFppPWpP6fDSwckCIQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMg--/https://media.zenfs.com/en/beincrypto_us_662/702a02606d4cf29c691709f32e96aead"/></p>
<p>Derivatives Positioning: Nansen</p>
<div class="lb-trans"><p>衍生品持仓：Nansen</p>
</div><p>In simple terms, speculation has dried up. That supports the idea that meme coins are no longer driving the market the way they once did. But speculation is only one side of the equation.</p>
<div class="lb-trans"><p>简单来说，投机活动已经枯竭。这支持了迷因币不再像以前那样推动市场的观点。但投机只是方程式的一部分。</p>
</div><h2>Whales and Holders Keep Adding as Coins Leave Exchanges</h2>
<div class="lb-trans"><h2>大户和持有者持续增加，代币离开交易所</h2>
</div><p>Despite weak price action, long-term behavior tells a different story.</p>
<div class="lb-trans"><p>尽管价格走势疲软，但长期行为却讲述了不同的故事。</p>
</div><p>Shiba Inu’s holder count, which tracks how many wallets hold SHIB, has continued to rise throughout the year. It started near 1.46 million and has grown to roughly 1.54 million. The growth has not been smooth, but the trend remains positive, even as prices fell sharply.</p>
<div class="lb-trans"><p>柴犬币的持有者数量（追踪持有 SHIB 的钱包数量）在全年持续上升。从约 146 万开始，增长至大约 154 万。尽管增长并不平稳，但趋势依然向好，即使价格大幅下跌。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/1JwejykeW1mqSs_x.p7ETQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUyNQ--/https://media.zenfs.com/en/beincrypto_us_662/c1ee88a83d882d53278f0608f67ec48d" alt="" original-src="https://s.yimg.com/ny/api/res/1.2/1JwejykeW1mqSs_x.p7ETQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUyNQ--/https://media.zenfs.com/en/beincrypto_us_662/c1ee88a83d882d53278f0608f67ec48d"/></p>
<p>Holders Keep Increasing: Santiment</p>
<div class="lb-trans"><p>持有者持续增加：Santiment</p>
</div><p>Whale data is more striking.</p>
<div class="lb-trans"><p>大户的数据更为引人注目。</p>
</div><p>Over the past year, large holders have increased their SHIB balances by about 249%, per the image shared earlier. Mega-whale balances are up roughly 28.5%. At the same time, exchange balances, which show how many tokens sit on trading platforms, have dropped by nearly 22%. Fewer coins on exchanges usually mean less immediate selling pressure.</p>
<div class="lb-trans"><p>根据之前分享的图像，过去一年中，大户的 SHIB 余额增加了约 249%。超级大户的余额增加了约 28.5%。与此同时，交易所的余额（显示在交易平台上的代币数量）减少了近 22%。交易所上的代币减少通常意味着即时卖压减轻。</p>
</div><p>This trend accelerated recently. Over the past 30 days alone, whale balances rose more than 61%, while most of the exchange outflows happened during the same period.</p>
<div class="lb-trans"><p>这一趋势最近加速。在过去 30 天中，大户的余额增加了超过 61%，而大多数交易所的流出发生在同一时期。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/Ty3ROhnQXhoVIbiFIHSiVA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMQ--/https://media.zenfs.com/en/beincrypto_us_662/5514c685e618a15d7a1c58c08376c6ba" alt="" original-src="https://s.yimg.com/ny/api/res/1.2/Ty3ROhnQXhoVIbiFIHSiVA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyMQ--/https://media.zenfs.com/en/beincrypto_us_662/5514c685e618a15d7a1c58c08376c6ba"/></p>
<p>Recent SHIB Holdings: Nansen</p>
<div class="lb-trans"><p>最近的 SHIB 持有情况：Nansen</p>
</div><p>That does not look like panic or abandonment. It looks like slow accumulation.</p>
<div class="lb-trans"><p>这看起来并不是恐慌或放弃，而是缓慢的积累。</p>
</div><p>However, it is important to note that derivatives traders are not joining in. Outside of top addresses, leverage positioning remains muted. Whales appear early, but are not aggressive.</p>
<div class="lb-trans"><p>然而，重要的是要注意，衍生品交易者并没有参与其中。除了顶级地址外，杠杆持仓仍然较低。大户似乎早早进入，但并不激进。</p>
</div><h2>Shiba Inu Price Structure Still Weak, but a Reversal Setup Is Emerging</h2>
<div class="lb-trans"><h2>柴犬币价格结构仍然疲弱，但反转形态正在出现</h2>
</div><p>SHIB price action remains fragile, but it is not hopeless.</p>
<div class="lb-trans"><p>SHIB 的价格走势依然脆弱，但并非绝望。</p>
</div><p>On the three-day chart, Shiba Inu is trading inside a long-term falling wedge, a pattern that often turns bullish if the price breaks upward. Recently, a key signal appeared.</p>
<div class="lb-trans"><p>在三日图上，柴犬币交易在一个长期下行楔形内，这一形态通常在价格向上突破时会转为看涨。最近，一个关键信号出现了。</p>
</div><p>Between December 3 and December 12, the Shiba Inu price made a lower low while the Relative Strength Index (RSI), a momentum indicator, made a higher low. This bullish divergence suggests selling pressure is weakening, raising the odds of a trend reversal.</p>
<div class="lb-trans"><p>在 12 月 3 日至 12 月 12 日之间，柴犬币的价格创下了更低的低点，而相对强弱指数（RSI）这一动量指标却创下了更高的低点。这一看涨背离表明卖压正在减弱，提高了趋势反转的可能性。</p>
</div><p>Key levels now matter more than narratives.</p>
<div class="lb-trans"><p>关键水平现在比叙述更为重要。</p>
</div><p>The first resistance sits near $0.0000092. A clean break above this level would mark a breakout from the upper trendline that has capped the price since September. If confirmed, the next resistance zones lie near $0.000010, $0.000011, and $0.000014, which align with the last major swing high. Do note that only a level break beyond $0.0000092 could completely invalidate the &#34;dead coin&#34; claims.</p>
<div class="lb-trans"><p>第一个阻力位在$0.0000092 附近。若能干净突破这一水平，将标志着自 9 月以来限制价格的上行趋势线的突破。如果确认，下一阻力区间在$0.000010、$0.000011 和$0.000014 附近，这与最后一个主要的波动高点相符。请注意，只有突破$0.0000092 的水平才能完全否定 “死币” 的说法。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://s.yimg.com/ny/api/res/1.2/sOT9ZdGbVOepxSjTepkYWA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwNQ--/https://media.zenfs.com/en/beincrypto_us_662/ac7d97e1f877d664fea623fb174e39d5" alt="" original-src="https://s.yimg.com/ny/api/res/1.2/sOT9ZdGbVOepxSjTepkYWA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwNQ--/https://media.zenfs.com/en/beincrypto_us_662/ac7d97e1f877d664fea623fb174e39d5"/></p>
<p>Shiba Inu Price Analysis: TradingView</p>
<div class="lb-trans"><p>柴犬币价格分析：TradingView</p>
</div><p>On the downside, the structure weakens below $0.0000075. A sustained move under that level would invalidate the reversal setup and reopen downside risk.</p>
<div class="lb-trans"><p>在下行方面，结构在$0.0000075 以下变得脆弱。若持续低于该水平，将使反转形态失效，并重新开启下行风险。</p>
</div><p>Shiba Inu is not dead, but it is not strong either. Speculation is gone, traders remain cautious, and quick gains are unlikely. Still, rising holder counts, heavy whale accumulation, and falling exchange balances suggest the chain is far from abandoned.</p>
<div class="lb-trans"><p>柴犬币并没有死去，但也并不强劲。投机活动消失，交易者保持谨慎，快速获利的可能性不大。尽管如此，持有者数量上升、大户大量积累以及交易所余额下降表明该链远未被遗弃。</p>
</div><p>If an altcoin cycle returns, Shiba Inu still has a path to revival. For now, it remains in survival mode, waiting for stronger confirmation.</p>
<div class="lb-trans"><p>如果替代币周期回归，柴犬币仍有复苏的路径。目前，它仍处于生存模式，等待更强的确认。</p>
</div><p>Read original story Will Shiba Inu Die Out In 2026? On-Chain Data Hold the Answer by Ananda Banerjee at beincrypto.com</p>
<div class="lb-trans"><p>阅读原文故事《柴犬币会在 2026 年消亡吗？链上数据给出答案》，作者 Ananda Banerjee，来源于 beincrypto.com</p>
</div>

柴犬币是否会在 2026 年消亡？链上数据揭示答案