Shiba

Value

when

Shiba Inu

Shiba Inu (SHIB) has had a wild ride since its launch in 2020. Initially a<a href="https://thebitjournal.com/top-5-meme-coins-this-summer-time-to-invest-or-just-for-laughs/"> meme coin</a> inspired by Dogecoin, it saw explosive growth in late 2021, reaching an all-time high. However, this rapid ascent wasn’t sustainable.&nbsp; 
The market corrected in early 2022, and SHIB’s price plummeted. Since then, it’s exhibited significant volatility, with periods of both gains and losses. While it remains a popular meme coin with a devoted community, SHIB is currently trading far below its all-time high, leaving investors to ponder its future potential. 
Currently, Shiba Inu’s (SHIB) price is rising from its lowest point in four months, trying to make up for the losses seen in the last month. 
Investors may also be able to take advantage of this opportunity since selling is likely to stop for now. Although Shiba Inu’s price has only gone down by 15% in the past week, buyers have lost three times as much. In one day, the total profit dropped from 75% to 33%, which is an almost 42% drop. 
This is because between $0.00001900 and $0.00001500, 434 trillion SHIB, which is worth $6.7 billion, were bought. Yesterday, when the meme coin fell to an intraday low of $0.00001281, this supply stopped making any money at all. Investors won’t be able to sell right now because there is such a big supply that will only be sold when it makes money again. 
Also, most investors hoping for a recovery and gains will probably start accumulating. The Market Value to Realized Value (MVRV) relationship shows that now is a good time to do so. 
The MVRV ratio determines how much money an investment made or lost. Shiba Inu’s 30-day MVRV is -14.5% right now, which means it has lost value, which could make people want to buy. 
In the past, when SHIB’s MVRV was between -7% and -18%, it generally meant the start of recoveries and rallies, which made it a good time to accumulate. This might help the price of Shiba Inu go up. 
<figure id="attachment_19900" aria-describedby="caption-attachment-19900" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" loading="lazy" decoding="async" class="size-large wp-image-19900" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/07/traxer-0ODB57ETeX8-unsplash-2-1024x681.jpg" alt="Shiba Inu Investors Eyeing Rebound as 42% of SHIB Supply Sits at a Loss" width="1024" height="681" title="Shiba Inu Investors Eye Rebound as 42% of SHIB Supply Sits at a Loss 38">
 <figcaption id="caption-attachment-19900" class="wp-caption-text">
 Shiba Inu Investors Eyeing Rebound as 42% of SHIB Supply Sits at a Loss
 </figcaption>
</figure> 
Shiba Inu’s price is very sensitive to the range between $0.00001473 and $0.00002093 because it holds 73% of all SHIBs in circulation. The meme coin might have a hard time here. 
But buyers would still try to get their money back, which would push SHIB up. Once $0.00002093 is broken, the currency has a chance to make money. 
If this break fails, Shiba Inu’s price might stay in this range, though. This would continue until bigger bullish signals help the coin escape. If that doesn’t happen, the bullish thesis would be shown to be false. 
<h2 id="b-what-s-next-for-shiba-inu-investors-b">What’s Next For Shiba Inu Investors?</h2> 
After falling to its lowest point in four months, the price of Shiba Inu (SHIB) is making an effort to recover. Despite the fact that investors have suffered considerable losses as a result of the recent price decrease, there appears to be an increase in the amount of buying pressure.&nbsp; 
The enormous amount of SHIB purchased at a higher price point creates a significant obstacle, yet the historically low MVRV suggests that an attractive entry point may be available for some individuals.&nbsp; 
A successful breach of the significant resistance zone between $0.00001473 and $0.00002093 is one of the most important factors that will determine the future trajectory of the coin.&nbsp; 
An attempt to break out could result in additional gains, while a failure to do so could cause the consolidation phase to continue for a longer period of time until more robust bullish indications emerge.

Shiba Inu Investors Eye Rebound as 42% of SHIB Supply Sits at a Loss

Table of Contents

The Bit Journal

Other articles published on Jul 8, 2024

MoonBag Price Prediction – Could MBAG Explode?

Japan’s Metaplanet Buys Another Bitcoin Dip, Will The Stock Rally Continue?

Bitcoin (BTC) Price Nears Bottom Despite Selling Pressure – Rebound Expected

Bitcoin bulls refuse to flip bearish despite the $53,300 retest

Dogecoin Confronts Market Instability

Is Mr. Black Being Silenced by X in His Mission to Bring About the Messianic Age?

Join our free newsletter for daily crypto updates!