Even though the price of #ShibaInu ($SHIB ) has fallen by 11 percent in the last week, the emergence of the trader gave a positive signal.
However, unlike other altcoins, this decline did not trigger a major sell-off among #SHIB investors. With a positive market sentiment continuing, the popular memecoin is expected to experience an expected recovery or consolidation in the near future.
According to IntoTheBlock features, SHIB's Coin Holding Period (Coin Holding Period) has been increasing since December 8. Coin Holding Period is an indicator that measures how long a cryptocurrency is held without being sold or moved. The longer this period, the longer it is, the more they move or do not sell their tokens between spending, which is an indicator of bullishness.
In turn, the decreasing holding period indicates that confidence in the potential in the short term is decreasing. In this case, some of its assets are being sold, which puts directional pressure on the price. Therefore, the increase that Shiba Inu has shown during this period seems to be a positive sign for the token. If this trend continues, it could accelerate the price recovery.
Also, the Daily Active Address (DAA) Divergence with its price gives a strong signal of a potential recovery for SHIB. This metric provides important insights when examining the user change on a blockchain and its appearance in price changes.
A positive price-DAA divergence indicates increased activity in the network, which usually leads to price increases. Conversely, a negative divergence indicates that the decrease is decreasing, which usually indicates a decrease.
According to centimeter rates, SHIB’s price-DAA divergence has increased to 33.65 percent. If this trend continues, SHIB’s price could be $0.000027 today.
#memecoins #binance #BTCRebounds100K
