Shiba Inu (SHIB) Undersold per This Indicator
The post Shiba Inu (SHIB) Undersold per This Indicator appeared on BitcoinEthereumNews.com. Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Dog-themed cryptocurrency Shiba Inu might be undersold if going by its NVT ratio. IntoTheBlock’s NVT indicator compares the market capitalization of a blockchain’s native token to its total transacted value over a given period. This ratio can provide insights into the valuation of the blockchain’s token relative to its usage. A low ratio may suggest that the token is undervalued relative to the amount of value being transacted on the blockchain, while a high ratio may suggest the opposite. Currently, the SHIB NVT ratio is at 172, which is much lower than the 52-week high of 788.59 reached in December 2022. A look at another indicator, the Market Value to Realized Value Ratio (MVRV), might provide insight into the profitability of the average Shiba Inu investor. Shiba Inu is depicting a lower ratio of 0.34, which may suggest that many holders are at a loss. At the time of writing, SHIB was down 0.28% in the last 24 hours to $0.00000648. Shiba Inu official shares key steps in Shibarium journey Shiba Inu team member Lucie shares a sneak peek into the important stages of the Shiba Inu and Shibarium journey and its relevance to the success of tokens SHIB, BONE, LEASH and the Shiboshis and ShibtheMetaverse communities. Lucie reveals that there are already some exciting plans lined…
The post Shiba Inu (SHIB) Undersold per This Indicator appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Dog-themed cryptocurrency Shiba Inu might be undersold if going by its NVT ratio. IntoTheBlock’s NVT indicator compares the market capitalization of a blockchain’s native token to its total transacted value over a given period. This ratio can provide insights into the valuation of the blockchain’s token relative to its usage. A low ratio may suggest that the token is undervalued relative to the amount of value being transacted on the blockchain, while a high ratio may suggest the opposite. Currently, the SHIB NVT ratio is at 172, which is much lower than the 52-week high of 788.59 reached in December 2022. A look at another indicator, the Market Value to Realized Value Ratio (MVRV), might provide insight into the profitability of the average Shiba Inu investor. Shiba Inu is depicting a lower ratio of 0.34, which may suggest that many holders are at a loss. At the time of writing, SHIB was down 0.28% in the last 24 hours to $0.00000648. Shiba Inu official shares key steps in Shibarium journey Shiba Inu team member Lucie shares a sneak peek into the important stages of the Shiba Inu and Shibarium journey and its relevance to the success of tokens SHIB, BONE, LEASH and the Shiboshis and ShibtheMetaverse communities. Lucie reveals that there are already some exciting plans lined…
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