The Shiba Inu (SHIB) network value to transactions (NVT) ratio has come into focus, with the meme coin currently enjoying an uptrend. However, this metric suggests that Shiba Inu could soon hit a roadblock on its journey to $0.00003. Shiba Inu NVT Ratio Is On The Rise Data from the on-chain market intelligence platform Glassnode shows that Shiba Inu’s NVT has witnessed a massive increase and is currently way ahead of the meme coin’s price. This is significant as it presents a bearish outlook for Shiba Inu and hints at a potential price correction for the meme coin. Related Reading: This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC The NVT ratio isn’t the only metric that Shiba Inu investors should be concerned about. Data from the market intelligence platform IntoTheBlock shows that Shiba Inu’s correlation with Bitcoin has drastically reduced since the flagship crypto began to enjoy an impressive rebound. Before now, Shiba Inu’s correlation with Bitcoin was over 0.9, which indicated a strong positive price correlation. However, that figure has now dropp ..
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