CandleFocus

Shiba Inu (SHIB) Eyes an Upswing, But Risk of Decline Persists

The meme coin Shiba Inu (SHIB) has experienced a 20% drop in value over the past week, leading to it being considered undervalued according to the market value to realized value (MVRV) ratio. A negative MVRV ratio suggests that the coin is undervalued compared to what people originally paid for it, making it a potential buying opportunity for traders. However, the strong bearish sentiment surrounding SHIB, as indicated by its negative funding rate and low Chaikin Money Flow (CMF), suggests that the downward trend may continue. Traders should exercise caution when considering investing in SHIB.

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