Shiba

Flow

bullish

Drops

Shiba Inu

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-seize-opportunity-as-shiba-inu-price-drops/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Seize Opportunity as Shiba Inu Price Drops</a> 
The price of <a href="https://en.coin-turk.com/whale-accumulation-in-shiba-inu-cryptocurrency-sparks-community-interest/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu (SHIB), the second-largest meme coin by market volume, dropped by 19% last month. This decline was seen as a buying opportunity for <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> looking to trade against the market trend. Amid this downturn, SHIB whales increased their holdings, taking advantage of the price drop.
<h2 style="text-align: justify" id="shiba-inu-price-drop-and-whales">Shiba Inu Price Drop and Whales</h2>
On-chain analysis of SHIB’s market value to realized value (MVRV) ratios suggests that the meme coin might currently offer a buying opportunity. As of the time of writing, the mentioned metric shows negative values across different moving averages.
According to <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> provided by Santiment, SHIB’s 30-day and 90-day MVRV ratios were recorded at -1.7 and -24.07, respectively.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383973" src="https://coin-turk.com/wp-content/uploads/2024/08/shib-1-shib-coin-turk-com.png" alt="" width="493" height="164">
When an asset’s MVRV ratio falls below zero, it indicates that the asset might be undervalued, meaning its current price is lower than the average price of all tokens in circulation. This level could be considered an opportunity for investors looking to “buy the dip.”
SHIB whales seem to have noticed this value drop, as an increase in trading activities was reflected in the charts. This situation is also evident from the recent increase in large transactions involving SHIB. According to data provided by IntoTheBlock, there was a 128% increase in SHIB transactions valued between $100,000 and $1,000,000 over the past month.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383974" src="https://coin-turk.com/wp-content/uploads/2024/08/shib-2-shib-coin-turk-com.png" alt="" width="470" height="279">
An increase in large transactions for a specific asset generally indicates a bullish trend. This is because purchases made by whales can encourage individual investors in the market, potentially accelerating buying activities.
<h2 style="text-align: justify" id="how-much-will-shib-be-worth">How Much Will SHIB Be Worth?</h2>
Technical analysis of SHIB suggests that despite increased interest from whales, the meme coin might still face further declines.
The Chaikin Money Flow (CMF), which tracks money inflows and outflows, remains at a neutral level but shows the potential to fall into negative territory. Generally, a CMF in the negative region indicates outflows of liquidity, which is considered a bearish signal.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383975" src="https://coin-turk.com/wp-content/uploads/2024/08/shib-3-shib-coin-turk-com.png" alt="" width="487" height="226">
On the other hand, SHIB’s Relative Strength Index (RSI) remains below the neutral line at 43.7, indicating that the selling pressure is currently stronger than the buying activity.
In a scenario where the selling pressure continues, SHIB’s price could potentially drop to $0.000010. However, if the bulls gain strength and take control, the price could rise to $0.000018.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-seize-opportunity-as-shiba-inu-price-drops/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Seize Opportunity as Shiba Inu Price Drops</a></h5>
The post <a href="https://en.coin-turk.com/investors-seize-opportunity-as-shiba-inu-price-drops/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Seize Opportunity as Shiba Inu Price Drops</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Investors Seize Opportunity as Shiba Inu Price Drops

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