Shiba

Token

Flow

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-token-shows-resilience-as-trading-fees-drop/" data-wpel-link="internal">Shiba Inu Token Shows Resilience as Trading Fees Drop</a><br></p>
<p style="text-align: justify">The popular meme token <strong><a href="https://en.coin-turk.com/shiba-inu-whale-effect-turns-short-term-decline-into-long-term-conviction/" data-wpel-link="internal">Shiba</a> Inu (<a href="https://en.coin-turk.com/shiba-inus-potential-surge-analysts-predict-a-bright-future/" data-wpel-link="internal">SHIB</a>)</strong> has been in a phase of pullback and consolidation for the past six weeks. The price movement chart of the <a href="https://coin-turk.com/subat-ayinda-fiyati-katlanabilecek-az-bilinen-3-kripto-para" data-wpel-link="internal">cryptocurrency</a> unit does not show any reason for investors to panic. On the contrary, experts believe that a further 15% drop in SHIB’s price could present a good buying opportunity.</p> 
<h2 id="shib-sees-lower-transaction-fees">SHIB Sees Lower Transaction Fees</h2> 
<p style="text-align: justify">A recent report about <strong><a href="https://en.coin-turk.com/shiba-inu-development-team-announces-historic-token-burn-plan/" data-wpel-link="internal">Shibarium</a></strong> revealed that transaction fees on the network have decreased. This could be concerning as it may indicate a decrease in user activity and a potential drop in demand. The meme token’s 12-hour price chart has shown that the $0.00003 level has been significant since March 15. The bulls in the cryptocurrency made a brief return to support in the last week of March but failed to hold.</p> 
<p style="text-align: justify">The latest jump in the altcoin also stopped just below the $0.00000295 level. The Relative Strength Index (RSI) highlights the indecision in momentum with a reading of 47. The Chaikin Money Flow is similarly uncertain, showing no significant progress above +0.05 or below -0.05 since mid-March. The price movement and indicators of the cryptocurrency suggest that <strong>SHIB</strong> is in a consolidation phase. The CMF movement could be an early signal of increasing buying (or selling) pressure and an impending SHIB movement in that direction.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-339432 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/shib-1.jpg" alt="" width="1287" height="427"></p> 
<h2 id="what-do-the-shib-data-indicate">What Do the SHIB Data Indicate?</h2> 
<p style="text-align: justify">The 30-day <strong>MVRV</strong> ratio dropped into negative territory earlier this month, which could indicate that the token is undervalued. On the other hand, the average age of the cryptocurrency has shown a strong upward trend since the beginning of March. This could be a strong buy signal, especially as the token strengthens below resistance.</p> 
<p style="text-align: justify">Open interest has also dropped significantly in the last ten days. At the beginning of March, when the average cryptocurrency age was rapidly decreasing, there was a large increase in dormant circulation. Since the mentioned period, dormant circulation has remained quieter. This could be another sign of a lack of significant selling pressure and token movement in recent weeks.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inu-token-shows-resilience-as-trading-fees-drop/" data-wpel-link="internal">Shiba Inu Token Shows Resilience as Trading Fees Drop</a></h5>

Shiba Inu Token Shows Resilience as Trading Fees Drop

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