Shiba

Shiba Inu

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inus-price-recovery-and-active-address-surge/" data-wpel-link="internal">Shiba Inu’s Price Recovery and Active Address Surge</a><br></p>
<p style="text-align: justify">The power of the <a href="https://en.coin-turk.com/shiba-inu-shib-gains-momentum-as-crypto-market-surges/" data-wpel-link="internal">Shiba</a> Inu (<a href="https://en.coin-turk.com/shiba-inus-future-speculations-and-milestones/" data-wpel-link="internal">SHIB</a>) community is once again making waves in the market as the number of active addresses begins to increase. Between March 5th and 7th, the project experienced a decline in active addresses. This decline occurred after previously reaching a peak of around 55,200. So, what can be expected for the price of <strong>Shiba Inu</strong> going forward?</p> 
<h2 style="text-align: justify" id="shiba-inu-s-recovering-price-and-active-addresses">Shiba Inu’s Recovering Price and Active Addresses</h2> 
<p style="text-align: justify">Active addresses represent the number of unique users participating in transactions. This metric helps to understand whether there is high speculation around a token. During the period of increased active addresses, Shiba’s price showed a 213% increase over seven days.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325064 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/atif-adres-coin-turk-com-.webp" alt="" width="2560" height="867"></p> 
<p style="text-align: justify">A few minutes later, the metric dropped and Shiba Inu’s price recorded a 6% decrease over a 24-hour period. As of writing this article, the metric has risen to 18,200 and the token value has increased by 11%.</p> 
<p style="text-align: justify">However, it is important to note that the metric is not the sole determinant of price movement. The latest trend suggests that SHIB may have a chance to repeat its previous performance. Even though it showed a 200% increase within seven days, there is a chance for the value to retest the $0.000040 level. As of writing, <strong>SHIB</strong> is trading at $0.000033.</p> 
<h2 style="text-align: justify" id="pay-attention-to-the-nvt-signal">Pay Attention to the NVT Signal</h2> 
<p style="text-align: justify">The NVT signal serves as a leading indicator to examine whether an asset is priced at a premium or at a discount. The metric peaked each time SHIB’s value dropped.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325067 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/nvt-sinyali-coin-turk-com-.png" alt="" width="963" height="536"></p> 
<p style="text-align: justify">Moreover, the <strong>NVT</strong> signal was at 125.37 while writing this article, significantly lower than the previous value of 207.19 a few days ago. This reading suggests that Shiba Inu may be close to a short-term bottom, hence increasing the possibility of an uptrend.</p> 
<h2 style="text-align: justify" id="sentiment-continues-to-rise">Sentiment Continues to Rise</h2> 
<p style="text-align: justify">The Weighted Sentiment for Shiba is at 0.335, which is slightly lower than a few days ago. Weighted Sentiment measures the unique social volume to assess whether market participants are inclined to a bullish or bearish trend on a project. Since the metric is not in the negative zone, it implies that there are more positive discussions about <strong>Shiba Inu</strong> than negative ones.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325068 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/duyarlilik-coin-turk-com-.webp" alt="" width="2560" height="867"></p> 
<p style="text-align: justify">In terms of the one-day circulation figure, <strong>Santiment</strong>‘s on-chain data showed a decrease, with circulation dropping to 3.01 trillion as of writing. This decrease indicates that fewer tokens have been traded since March 5th.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inus-price-recovery-and-active-address-surge/" data-wpel-link="internal">Shiba Inu’s Price Recovery and Active Address Surge</a></h5>

Shiba Inu’s Price Recovery and Active Address Surge

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