Shiba Inu has gone down 10% since hitting a local top two days ago. But here are some metrics that suggest the rally could still continue. Shiba Inu On-Chain Metrics Have Seen Positive Developments Recently Shiba Inu had been stuck in a perpetual sideways trend during most of July, but the meme coin’s fate switched in the first few days of this month as its price showed some strong upwards momentum. In this rally, the asset had managed to breach the $0.00001000 level, meaning that it had risen almost 30% in a matter of days. The coin, however, couldn’t keep this rise up and soon hit a local top, and since then, SHIB has been moving down. The below chart shows how Shiba Inu has performed during the past month: Looks like the value of the asset has shot up in recent days | Source: SHIBUSD on TradingView As you can see in the graph, while SHIB has seen a notable 10% drawdown since the top around two days back, the full gains of the rally haven’t been w ..
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