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Dog-themed cryptocurrency Shiba Inu could be underrated if its NVT ratio is followed. IntoTheBlock’s NVT indicator compares the market capitalization of a blockchain’s native token to its total transaction value over a given period.
This relationship can provide insight into the valuation of the blockchain token in relation to its use. A low ratio may suggest that the token is undervalued relative to the amount of value being realized on the blockchain, while a high ratio may suggest the opposite.
Currently, the SHIB NVT index is at 172, well below the 52-week high of 788.59 reached in December 2022.
A look at another indicator, the market value to realized value ratio (MVRV), could provide insight into the profitability of the average Shiba Inu investor.
Shiba Inu shows a lower ratio of 0.34, which may suggest that many forks are at a loss. At the time of writing, SHIB was down 0.28% in the last 24 hours to $0.00000648.
A Shiba Inu Official Shares Key Steps in the Shibarium Journey
Shiba Inu team member Lucie shares a sneak peek at the important stages of Shiba Inu and Shibarium’s journey and their relevance to the success of SHIB, BONE, LEASH tokens, and the Shiboshis and ShibtheMetaverse communities.
Lucie reveals that there are already some interesting plans prepared for the development of the Shiba Inu ecosystem tokens. This would ensure that SHIB, BONE and LEASH were valuable and had great utility within the Shiba Inu ecosystem. The goal of this is to attract more users and investors and ultimately benefit the entire SHIB community.
Secondly, the Shiba Inu ecosystem would focus on creating exceptional dApps that are expected to revolutionize the decentralized world.
Lastly, Shiba Inu is actively building the Shiboshis and Shib the Metaverse kingdoms. These virtual kingdoms will serve as vibrant hubs for the Shiba Inu community to connect, interact and explore.
