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Shiba Inu (SHIB) is finally showing signs of some recovery after the recent surge. According to on-chain data, the number of daily active addresses of Shiba Inu saw a significant increase last week.
Related: Will Shiba Inu Coin Reach $1? Shiba Inu Price Prediction
▪️ The price of Shiba Inu has been fairly stable over the past few weeks. However, the recent increase in daily active addresses can be quite a positive situation for the project. It’s too early to reach any definitive conclusions, but the asset shows some resistance in generally a downtrend market.
▪️ A significant factor in this increase of Shiba Inu (SHIB) may be its increasing influence in the DeFi (Decentralized Finance) area. As more users engage in this ecosystem, the asset is likely to see more liquidity and trading volume, which can boost its price.
▪️ As the Total Value Locked (TVL) of Ethereum is falling, Shiba Inu’s TVL hasn’t experienced a significant decline, maintaining its stability. Especially when Ethereum’s value keeps depreciating, this could be seen as a positive sign for Shib Coin.
▪️ However, it is important that the increase in daily active addresses could lead to increased volatility. This could affect the future performance of SHIB. Also, it could be a factor that investors need to be careful about.
Nothing in our content is an investment advice.
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