Shiba

Ethereum

Value

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-notice-shiba-inus-recovery-potential-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Notice Shiba Inu’s Recovery Potential</a> 
Shiba Inu‘s price highlights recovery potential 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/pepe-coin-captures-attention-with-meteoric-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> back into its consolidation zone and possibly surpass it. Shiba Inu’s price might start accumulating again as it drops 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 assesses 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% usually signals the start of recoveries and rises, 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 for a trigger.
This supply was bought between $0.00001700 and $0.00001900. Therefore, a significant price increase is needed for it to become profitable again, motivating 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, might be troubled by the approximately 40% drop recorded throughout June. The memecoin made room for losses as the consolidation zone fell between $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 exceed its upper limit. However, if the $0.00002093 resistance break fails, the same consolidation might 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 help the memecoin project rise.
<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/investors-notice-shiba-inus-recovery-potential-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Notice Shiba Inu’s Recovery Potential</a></h5>

Investors Notice Shiba Inu’s Recovery Potential

目次

COINTURK NEWS

2024年7月1日公開の他の記事

Sony to Launch Crypto Exchange with Revamped WhaleFin Platform

Optimism In Chainlink Due To Coinbase, Can Link Gain 50%?

Circle becomes first stablecoin issuer to obtain EMI license under MiCA

Can Solana Capitalize on Its DEX Performance to Surpass Ethereum?

PayPal-backed fintech startup Mesh teams up with Italy’s crypto wallet Conio

Crucial Bitcoin Value Statement Issued by Samson Mow Based on This Metric

ニュースレターを購読して暗号資産の最新情報を毎日入手！