Shiba Inu Down 5% Despite 144% Spike In Active Accounts, Community Builder Sees 'Powerful Economics'
Portfolio Pulse from Khyathi Dalal
Shiba Inu (CRYPTO: SHIB) is down 5.3% despite a 144% increase in active accounts and a 73.4% rise in trading volume, indicating growing investor optimism. ShibaSwap's expansion to operate on Shibarium and Ethereum networks, with Bone as the gas fee token, aims to enhance SHIB's utility. The increase in transactions and active accounts, along with a significant portion of SHIB holders in profit, suggests a positive outlook for SHIB despite the current price drop.
April 29, 2024 | 7:46 pm
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NEUTRAL IMPACT
Shiba Inu (SHIB) experienced a 5.3% price drop despite a significant increase in active accounts and trading volume, indicating a mixed short-term impact with potential for recovery driven by increased utility and investor optimism.
The price of SHIB is down 5.3%, but the increase in trading volume and active accounts, along with the expansion of ShibaSwap, suggests a growing investor optimism. This could mitigate the short-term negative price impact, making the future outlook potentially positive.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100