Shiba Inu Investors Prepare for a Rally

Shiba Inu Investors Prepare for a Rally

Shiba Inu's price has seen the impact of its investors' actions in the past. The meme coin tends to react positively to a bullish move from them, which is the anticipated outcome this time. According to the Market Value to Realized Value (MVRV) ratio, SHIB is in the opportunity zone.

Shiba Inu MVRV

The MVRV ratio monitors investor profits and losses. With SHIB's 30-day MVRV at -9.7%, indicating losses, accumulation may ensue. Historically, SHIB undergoes recovery at MVRV levels of -9% and -19%, marking it as an accumulation opportunity zone.

Thus, should investors stock up on SHIB at the current price, they could benefit from the eventual rally.

SHIB Price Prediction: Lookout for a Rise

Shiba Inu's price, trading at $0.00002311 at the time of writing, is close to initiating a rally, which is expected to push the meme coin to $0.00002835. SHIB could rise by 23% with the bullish broader market cues, provided it can flip the $0.00002584 resistance into support.

This would also enable the meme coin to once again attempt to achieve the 43% rally target of the symmetrical triangle pattern. However, if the support of $0.00002039 is lost, Shiba Inu's price could decline considerably. The potential drawdown will bring the meme coin down to $0.00001473, invalidating the bullish cues.