SHIB Price Momentum Extends Beyond February?

The Shiba Inu price has shown a significant trend recently, and investors and traders are closely watching the indicators to predict the next move. Is this another crypto rollercoaster or are we seeing the start of a sustained price rise for memecoin?

SHIB has accumulated 343.06% in last month and almost 50% growth in last 24 hours. This move sends a strong signal to the market, but the question on every investor's mind is whether SHIB can sustain its bullish momentum.

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

Just a week ago, Shiba Inu's MVRV ratio was around 0.5, indicating that the average SHIB is undervalued, indicating undervaluation or lack of investor confidence. When the MVRV ratio rises to 1.29, it shows a dramatic change in market volatility.

This jump indicates that the value realized by SHIB holders has more than doubled, which hints at strong bullish sentiment and may increase speculative demand.

The MVRV ratio, which compares the market capitalization (current price multiplied by the implied supply) to the realized capitalization (the value of the coins when they finally move), determines the market's profit and loss.

The current ratio suggests that most SHIB investors may sell at a profit, which could lead to profit taking or investor confidence, each of which has implications for SHIB's future price performance.

Primary addresses are still holding SHIB.

Currently, 58.31% of the total supply of SHIB is held by senior addresses, which is a slight decrease from 59.55% three days ago. This modest decline has occurred with price increases, but the data confirms that high addresses have retained their SHIB holdings.

A stable or increasing supply percentage held by top addresses may indicate their continued confidence in the token's growth, which could benefit SHIB's value.

SHIB Price Prediction: Will it rise 50% in the future?

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

If SHIB starts to maintain its holdings above $0.000039, it may strengthen investor confidence, which may lead the price to the next resistance near $0.000045. However, if it can break through these resistances, Shiba Inu could continue its upward trajectory to $0.00006, making a 50% gain in the coming weeks and approaching the ATH.

On the contrary, when a slip below this critical line SHIB fails to find support around $0.000035, many addresses may choose to ‘break even' on their investments.