More than 50,000 fans turned up for the final home game of the season, and the 43-year-old told the BBC: "Newcastle supporters don't expect to win trophies, but they want to go to a game to see 11 guys out there on the pitch giving their all for the team.
"They turn up, year-in-year out, 52,000 of them, and they've been starved this season. They just want to know where they're going, and if the owner will spend some money to bring some players in.
"I played golf with a few friends of mine, and because I was working on Match of the Day for the Cardiff game, I took my ticket, chucked it down amongst nine mates to see who wanted it. Normally there would be a fight to get it, but they all said they didn't want to go. It's a sign of the times."
Gary Lineker joked his punditry side-kick left of the Match of the Day office in the 69th minute of Newcastle's victory on Saturday in support of a walk-out protest by fans.
Shearer added: "There have been no real players in during the last couple of transfer windows, despite selling their best player in Yohan Cabaye in January.
"The fans want to have some belief, and hope and they'll cheer the team. Since January it's been a dreadful time and they've had nothing to shout about."