Shiba Inu (SHIB) Token Predicted to Recover Despite Recent Drop
The Essentials at a Glance
The latest price forecasts for Shiba Inu (SHIB) suggest a possible recovery after the token has recorded a significant decline in recent days. Expert analysis and market indicators suggest that SHIB could be undervalued and an upward movement is imminent. Here you will learn what steps you should consider.
Market Analysis and SHIB’s Potential
The number of Shiba Inu tokens on exchanges has steadily decreased since the end of March, which should normally reduce selling pressure. Despite a general decline of 25.34% in the last month, current data suggests that SHIB could be ready for a recovery. In particular, the low NVT ratio (Network Value Transaction) suggests that the token is currently undervalued.
What the Numbers Say
The analysis of the exchange inflow to outflow ratio shows that fewer SHIB tokens are deposited into exchanges than are withdrawn, which reduces selling pressure. This could be an indicator that the price of SHIB could rise in the near future. In addition, the current NVT ratio suggests that a price increase is likely as the token appears undervalued compared to the market condition.
Forecasts and Possible Price Targets
Based on the current market analysis and specific indicators, SHIB could attempt to surpass the $0.000040 mark. Such a movement would be positive for the token in the long term as it has the potential to eliminate another zero from its price. However, this forecast strongly depends on the general market sentiment development in May.
Our Assessment
Given the current data and market indicators, SHIB appears to be undervalued, which could represent a good opportunity for investors. The impending recovery, coupled with a potential price increase, makes SHIB an interesting point of observation for the coming weeks. As always, it is important to conduct your own research and base investment decisions on a variety of sources and analyses.
Sources: AMBCrypto, Glassnode, Santiment
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