Shiba Inu (SHIB) Undersold per This Indicator
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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 up for the development of the Shiba Inu ecosystem tokens. This would ensure that SHIB, BONE and LEASH would be valuable and have strong utility within the Shiba Inu ecosystem. This is intended to attract more users and investors, ultimately benefiting the overall SHIB community.
Second, the Shiba Inu ecosystem would be focused on creating exceptional dApps expected to revolutionize the decentralized world.
Lastly, Shiba Inu is actively building the Shiboshis and Shib the Metaverse realms. These virtual realms will serve as vibrant hubs for the Shiba Inu community to connect, interact and explore.
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Tomiwabold Olajide
