CandleFocus Shiba Inu Eyes Double-Digit Gains as 2 Key Indicators Turn Bullish
2024-09-12
Author: Content Editor
The Shiba Inu cryptocurrency, which has been in a downtrend for several months, may be poised for double-digit gains. Two key indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), have turned bullish, suggesting potential price increases. There is a possibility that Shiba Inu could rally to $0.00001525, a 14.92% surge from its current price. Factors such as the influx of developers to the Shibarium development portal and increased deployment of contracts on the network could further support Shiba Inu's gains. The Market Value to Realized Value (MVRV) ratio indicates that the token is undervalued, while the Network Realized Profit/Loss Metric suggests that traders have suffered losses recently.
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