Shiba

Value

Shiba Inu

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-investors-see-potential-for-price-recovery/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Investors See Potential for Price Recovery</a> 
Shiba Inu‘s price highlights the potential for recovery as <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> tired of losses might restart asset accumulation. This could lead the popular <a href="https://en.coin-turk.com/bitcoin-analyst-bluntz-predicts-rise-in-two-memecoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> to re-enter and even surpass the consolidation zone it has been in for months. Shiba Inu’s price may start accumulating again as it falls to a point where buying the memecoin seems profitable.
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-shiba-inu">What’s Happening with Shiba Inu?</h2>
This development is clearly seen in the Market Value to Realized Value (MVRV) ratio. The MVRV ratio evaluates investor profit and loss, and currently, Shiba Inu’s 30-day MVRV data is at -17%, indicating losses that could lead to buying pressure. Historically, SHIB MVRV between -8% and -18% typically signals the beginning of recoveries and uptrends, marking an opportunity zone for accumulation.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-366710 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/santiment.webp" alt="" width="1536" height="520">
This could be a likely outcome because SHIB investors currently have billions of dollars in profit. According to the Global In/Out of the Money (GIOM) indicator, approximately 425 trillion SHIB worth over $7.3 billion is waiting to be triggered.
This supply was bought between $0.00001700 and $0.00001900. Therefore, a significant price increase is needed for it to become profitable again, which will motivate investors to accumulate.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-366709 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/shiba.webp" alt="" width="1656" height="503">
<h2 class="p1" style="text-align: justify" id="shib-chart-analysis">SHIB Chart Analysis</h2>
Shiba Inu’s price, trading at $0.00001696, may be troubled by the approximately 40% drop recorded throughout June. The memecoin made room for losses by falling between the consolidation zone of $0.00002584 and $0.00002267. SHIB investors plan to reclaim these gains and are likely acting accordingly.
With the help of investors, the memecoin could return to consolidation and potentially even exceed its upper limit. However, if the $0.00002093 resistance break fails, the same consolidation could occur within this resistance level and the $0.00001473 support, invalidating the bullish thesis. A positive process in Ethereum ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">applications</a> could also lead to a rise in the memecoin project.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-366708 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/shib.webp" alt="" width="1805" height="771">
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-investors-see-potential-for-price-recovery/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Investors See Potential for Price Recovery</a></h5>

Shiba Inu Investors See Potential for Price Recovery

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