Shiba Inu Sees Dramatic Surge In Network Growth Despite Repressed Prices Shows On-Chain Data
Portfolio Pulse from Mehab Qureshi
Shiba Inu token (SHIB) has seen a surge in network growth despite repressed prices, according to on-chain analytics platform Santiment. The analysis highlights increased investor engagement, potential for future gains due to unrealized losses, and a decrease in SHIB supply on exchanges. Despite a surge in trading volume on June 30, both Shiba Inu and Dogecoin (DOGE) have experienced a decline in volume. SHIB was trading at $0.000007519, down 2.75% in the last 24 hours.
July 06, 2023 | 11:48 am
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NEUTRAL IMPACT
Shiba Inu token has seen a surge in network growth, potential for future gains due to unrealized losses, and a decrease in supply on exchanges, despite a decline in trading volume.
The surge in network growth, potential for future gains, and decrease in supply on exchanges could indicate a positive outlook for Shiba Inu, despite the decline in trading volume.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin has experienced a decline in trading volume following a surge on June 30.
The decline in trading volume for Dogecoin could indicate a decrease in investor interest, potentially leading to a decrease in price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50