Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»Will SHIB price momentum extend beyond February’s strength?
TRADING NEWS

Will SHIB price momentum extend beyond February’s strength?

By Crypto FlexsMarch 6, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Will SHIB price momentum extend beyond February’s strength?
Share
Facebook Twitter LinkedIn Pinterest Email

The price of Shiba Inu has shown a notable rise recently, and investors and traders are closely watching indicators to predict its next move. Is this another cryptocurrency roller coaster, or is this the beginning of a sustained price rise for memecoins?

SHIB has recorded an impressive growth of 343.06% in the past month and nearly 50% in the last 24 hours. While this move sends a strong signal to the market, the question on every investor’s mind is whether SHIB can maintain its bullish momentum.

Shiba Inu’s MVRV Ratio Hits 1.29: Stepping Stone or Cliff Edge?

Just a week ago, the Shiba Inu’s MVRV ratio was normal at 0.5. This means that the average SHIB is being held below market value, suggesting either undervaluation or a lack of investor confidence. The MVRV ratio soars to 1.29, revealing a dramatic change in market dynamics.

This jump represents a more than doubling of SHIB holders’ perceived value, suggesting strong bullish sentiment and potentially increased speculative interest.

SHIB MVRV. Source: IntotheBlock

The MVRV ratio, which compares market capitalization (current price multiplied by circulating volume) to realized market capitalization (value when the coin last moved), verifies the gains and losses in the market.

Current ratios highlight that most SHIB investors will be able to sell at a profit, which could lead to profit taking or strengthening investor confidence, each of which will impact SHIB’s future price trajectory.

Read More: 6 Best Platforms to Buy Shiba Inu (SHIB) in 2024

The parent address still holds SHIB.

Currently, 58.31% of SHIB’s total supply is held by parent addresses, down slightly from 59.55% just three days ago. Although this modest decline has been accompanied by a surge in prices, the data confirms that top addresses are maintaining their SHIB holdings.

Top address holds supply
Supply held by top addresses (% of total supply) Source: Santiment

A stable or increasing percentage of supply held by top addresses could indicate continued confidence in the token’s growth potential, which could be beneficial for SHIB’s price.

SHIB Price Prediction: Is a 50% increase expected?

The IOMAP (In/Out of Money Around Price) chart is a treasure map for SHIB traders, showing key price levels at which addresses have purchased tokens. With the current price at $0.000039, most holders are ‘In the Money’, which could provide strong support at this level.

SHIB IOMAP.  Source: IntotheBlock.
SHIB IOMAP. Source: IntotheBlock

A SHIB hold above $0.000039 would likely strengthen investor confidence and push the price towards the next resistance level near $0.000045. However, if this resistance can be broken, Shiba Inu could continue its growth trajectory all the way to $0.00006 and approach the ATH, capitalizing on a 50% gain next week.

Read More: Shiba Inu (SHIB) Price Prediction for 2024/2025/2030

Conversely, a slip below this pivotal line may prevent SHIB from seeking support around $0.000035, and many addresses may choose to ‘break even’ on their investments.

disclaimer

All information contained on our website is published in good faith and for general information purposes only. Any action you take upon the information on our website is strictly at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025
Most Popular

Bitcoin Bull Michael Saylor Wants SEC to Bring Crypto Herd Together: ETH, ADA, SOL In Crosshairs

May 5, 2024

Scoop: San Francisco’s Legacy Continues as VCs Globalize Crypto Markets

August 27, 2024

Sui expands DeFi horizons with native stablecoin

November 21, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.