Shiba

Ethereum

Value

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-eye-shiba-inus-recovery-potential/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Eye Shiba Inu’s Recovery Potential</a> 
Shiba Inu‘s price highlights its recovery potential as <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> tired of losses may restart asset accumulation. This could lead to the popular <a href="https://en.coin-turk.com/book-of-meme-combines-meme-culture-with-blockchain-technology/" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> re-entering and even surpassing its months-long consolidation zone. 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 stands at -17%, indicating losses that could lead to buying pressure. Historically, SHIB MVRV between -8% and -18% usually marks the beginning of recoveries and uptrends, indicating 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 at stake. According to the Global In/Out of the Money (GIOM) indicator, about 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, may be troubled by the approximately 40% drop recorded throughout June. The memecoin opened up to 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 even exceed the 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 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-eye-shiba-inus-recovery-potential/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Eye Shiba Inu’s Recovery Potential</a></h5>

Investors Eye Shiba Inu’s Recovery Potential

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