Attention is being paid to the possibility of recovery in the Shibainu (SHIB) price, as investors frustrated by losses may start buying again.
This could cause meme coins to re-enter and even break out of territory where they have been bottoming for several months.
Sibainu investors can start accumulating.
The price of Shibainu may start accumulating again, as the decline has brought the meme coin down to a point where buying is profitable. This can be seen in the market value to realized value (MVRV) ratio.
The MVRV ratio evaluates an investor's profits and losses. Sibainu's 30-day MVRV is currently -17%, indicating losses that could lead to buying pressure. Historically, between -8% and -18% typically signals the start of a recovery and rally, representing an opportunity zone for accumulation.
This is an expected outcome, as billions of dollars worth of profits are currently at stake for SHIB investors . According to the Global In/Out of the Money (GIOM) indicator, approximately 425 trillion SHIB worth over $7.3 billion is waiting for a trigger.
This supply was bought between $0.00001700 and $0.00001900. So it would take a huge price spike to make it profitable again, which would motivate investors to keep accumulating.
Read more: How to Buy Shibainu (SHIB) and Everything You Need to Know
SHIB price prediction: bounceback needed
Trading at 0.00001696, the price of Sibainu is experiencing bearish signals, falling nearly 40% throughout June. Mimcoin fell from the zone of bottoming between $0.00002584 and $0.00002267, opening the door for losses.
SHIB investors are intent on recapturing these profits and are likely acting accordingly. With their help, meme coins could bottom out again and potentially even break through the upper limit.
Read More: Shibainu (SHIB) Price Prediction 2024/2025/2030
However, if the $0.00002093 barrier is broken, the same bottom may be consolidated within this resistance line and the $0.00001473 support line, invalidating the bullish logic.
