Whales abandon Shiba Inu: What’s next for SHIB price?
What is the current price of Shiba Inu (SHIB)?
The current price of Shiba Inu (SHIB) is $0.00001707, with a 24-hour trading volume of $179,685,937.01. This represents a -3.50% price decline in the last 24 hours and a -15.16% price decline in the past 7 days3. The circulating supply of Shiba Inu is 590 trillion SHIB, resulting in a market cap of $10,315,460,246.
What is the predicted drop in SHIB's price according to the news?
The news predicts that SHIB's price might drop to $0.000014 if the holdings continue to decrease. The decline in the token's price is influenced by both retail and whale investors reducing their balances. The NVT Ratio also supports the possibility of a price decrease.
What does the NVT Ratio indicate about SHIB's market value?
The NVT Ratio indicates that SHIB's market value is currently overvalued, as the market cap significantly exceeds transaction volume1. This suggests that a potential price decline may be on the horizon.