The well-known meme coin, Shiba Inu (SHIB), has seen a more than 10% drop in value over the past week, leading to its current undervaluation. This offers savvy investors a potential buying opportunity.
The market value to realized value (MVRV) ratios for SHIB, at -3.80% and -12.02%, suggest it is undervalued. MVRV ratios help determine an asset's value status, with negative ratios indicating undervaluation.
A historically negative MVRV ratio is seen as a buying signal, suggesting SHIB is trading below its original acquisition cost and might rebound.
Despite this, prevailing bearish resistance and SHIB trading below its Ichimoku Cloud suggest potential price decline unless trading activity increases.
Źródło: beincrypto.com ↗