Is Shiba Inu on the verge of a breakout
Has the dog got its “woof” back?
In timing local bottoms, the Age Consumed metric has proven effective. This metric tracks the number of tokens changing addresses on a certain date, multiplied by the time since they last moved.
Weak hands are in
Another on-chain metric that suggested that SHIB logged a price bottom on 5 October was its Network Profit and Loss (NPL) metric.
Demand for SHIB remains low
Among spot traders, SHIB’s daily distribution exceeds accumulation. As of this writing, key momentum indicators were pegged below their respective neutral lines. For example, the coin’s Relative Strength Index (RSI) was 43.70, while its Money Flow Index (MFI) was 37.28.
