Shiba Inu Outlook: Will May Signal a Bullish Rebound for SHIB?

Despite April price decline, Shiba Inu indicators hint at potential recovery in May, with projections suggesting a surge past $0.000026 and eyes set on $0.000040

Shiba Inu (SHIB) investors await signs of a turnaround after April price dip, as data suggests a possible bullish trajectory for May. Exchange metrics reveal a decrease in SHIB tokens on platforms, signaling a potential reduction in selling pressure.

Although SHIB value dropped by 25.34% in the last month, decreasing exchange balances could pave the way for recovery. Traders anticipate market sentiment shifts in May, with hopes for SHIB to surpass $0.000026 initially.

Analysis of exchange inflow and outflow indicates a favorable scenario for SHIB, with outflow exceeding inflow by threefold, suggesting reduced selling pressure in the near future.

Moreover, the NVT Ratio, signaling undervaluation, stands at 107.72, hinting at a potential price increase. Historical data indicates SHIB capability to surge beyond $0.000040, presenting a long-term bullish outlook for the cryptocurrency.

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