Shiba Inu's fundamental on-chain metrics are on rise, but will it be enough?
current price is around $0.00000711. While this might not seem like much, it's crucial to look beyond the surface. The NVT ratio's upward movement suggests that the network is robust, even if the price isn't skyrocketing.
But there is another layer to this story. The DeFi landscape is undergoing seismic shifts, and Shiba Inu is no exception. With the rise of various DeFi platforms,faces stiff competition. Yet, its rising NVT ratio indicates that it is holding its own, at least for now. What's the takeaway here? Shiba Inu might not be breaking any records in terms of price, but it is far from down and out. The rising NVT ratio and the high concentration of long-term holders paint a more nuanced picture. They suggest that while the asset may not be soaring, it is certainly not sinking. And in the volatile world of crypto, that is saying something.
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