Shiba Inu’s NVT Ratio Sees Drastic Increase, Is A Rise To $0.00003 Still Possible?
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The Shiba Inu (SHIB) network value to transactions (NVT) ratio has significantly increased, presenting a bearish outlook and hinting at a potential price correction. The correlation between SHIB and Bitcoin has also reduced, with only 51% of holders currently in profit. However, other metrics like increased large transactions suggest whales might be accumulating SHIB, indicating a possible price rise. Crypto analyst Javon Marks predicts SHIB could rise above $0.00003, with potential targets even higher based on RSI analysis. Currently, SHIB is trading at around $0.00001718, up over 2% in the last 24 hours.
Source: www.newsbtc.com ↗
