Despite short-term price fluctuations, Shiba Inu (SHIB) continues to attract attention from investors. Current market data suggests a bullish outlook despite some recent bearish indicators. A closer look reveals the reasons for this mixed sentiment and potential trading strategies. 4% of SHIB holders are currently at a neutral level, while 36% have purchased in at a profit and 59% hold profits. This points to a robust market structure with high investor confidence. Further, large holders, owning about 74% of the token, provide stability by holding less volatile assets compared to other SHIB investors. This is indicated by the moderate correlation between SHIB and Bitcoin at 0.46 which suggests SHIB may move independently from BTC. Finally, a significant portion of SHIB holders (78%) have been investing for extended periods, highlighting their strong conviction and resilience. The price is gradually declining towards its annual high, breaking its upward trendline despite the bullish indicators mentioned above. The trading volume is also dropping quickly, which could be a sign of a short-term consolidation before a breakout. Given the market’s dominance by long-term investors and large holders, these metrics support holding, especially since there was no significant panic selling, even during recent price drops. As the market remains cautious, it may be a good time to buy if support levels near the annual high retest, particularly if on-chain metrics continue to hold firm. Ultimately, while short-term bearishness may soon subside due to bullish fundamentals, the broken trendline warrants caution. Long-term investors who are patient and observant should position themselves for potential upside.