- The percentage of smpoqué portfolios which has profit fell 47%, marking the lowest level in three months.
- The downward MVRV ratio also indicated that traders saw the profits not made on their assets.
Shiba Inu (Shib) was negotiated at $ 0.0000,186 at the time of the press, after a slight gain of 0.9% in 24 hours. Despite this, the meme coin remains down by almost 7% in the last seven days.
A factor affecting SHIB’s performance could be a drop in the profitability of the portfolio, which attenuated the feeling of investors.
Portfolios have reached a 3 -month hollow
The number of profitable Shiba Inu portfolios fell to 676,500 addresses, marking the lowest level in three months. At the time of the press, only 47% of SHIB holders were profitable, while 49% were seated in losses.
Source: intotheblock
According to past trends, the Shibs Price Rally coincides with an increase in the number of profitable portfolios. Therefore, if more merchants are loss, this could lead to new decreases for Shib.
Traders who seek to minimize their losses could also exert additional pressure on the sale on the same part, causing a decline.
Is a downward MVRV good for the price?
The market value ratio of Shiba Inu / Value made (MVRV) fell to 0.907, marking the lowest level since early November 2024. This drop indicates that the average holder notes less profits from their participations.
Source: intotheblock
A low MVRV could lead to a reduction in sales pressure, as the drop in profits means that there is less incentive for sale. However, this drop could also trigger an additional fall if buyers’ demand remains low.
Shib price analysis
The daily graph of Shiba Inu shows that the sales pressure has exceeded the purchase pressure. In fact, the relative resistance index (RSI) fell at 36, which highlights a bearish momentum.
At the time of the press, the RSI changed north, showing an increase in the purchase activity. If it crosses the signal line, it could strengthen the purchase of the momentum.
(Source: tradingView)
At the same time, the average directional index (ADX) increased, indicating that the downward trend is still strong. Merchants should monitor a change in the ADX line to confirm a bullish reversal.
Shib tested resistance at 0.786 Fibonacci ($ 0.0000189). If it exceeds this level and extends the gains, the next target for the same part is $ 0.0000212.
Realistic or not, here is the market capitalization of SHIB in terms of the BTC
Open interest increases again
Data from Rinsing shows a notable drop in the open interest of Shiba Inu (OI) to 351 million dollars. At the time of the press, this metric amounted to $ 348 million after a slight gain of 5% in 24 hours, indicating that traders opened new positions.
If OI continues to increase, this will show an increase in speculative interest which could support an upward trend. Long positions also seem to dominate the market due to positive financing rates.
