Despite recent market consolidation, Shiba Inu (SHIB) is currently finding a new equilibrium as a price revival continues. Meme coin rose 8% in the last 24 hours to $0.000008078, the highest level since early September, amid a surge in purchasing activity. With this latest growth spurt, SHIB is now repositioned for an even more ambitious run, and there are a number of key metrics to keep an eye on.
Three Shiba Inu Criteria to Watch
While the price-to-earnings ratio is important, buyers may need to pay attention to trading volume. Currently, SHIB volume has increased by a whopping 68%, bringing the total number of tokens traded to $333,406,842. This metric is useful for both retail and institutional investors. meme coinIt shows interest in , and if it continues, it could lead to a closer uptrend for the token.
Koinfinans.com As we reported, data from IntoTheBlock (ITB) also reflects the Shiba Inu’s profitability amid the recent revival in price. According to the data, the number of Shiba Inu wallet addresses in loss reached 76.86%, a huge improvement from the over 90% previously recorded.
Finally, the Shiba Inu’s social sensitivity is improving and the Fear and Greed Index for the token is pegged at “Greed”. This greed is particularly important as it can effectively direct more capital to SHIB. It’s a move that could prove crucial in the token’s bid for a sustainable recovery.
Shibarium Factor
Shibariumis a major protocol that has a tendency to help attract more users to the Shiba Inu ecosystem. With plans to support the growth of decentralized applications and offering advanced burning support Shibarium, could be the next big catalyst to push the SHIB price to new highs. The protocol has remained stable since its rebirth, with further innovations being teased by the core team.