Shiba Inu and FLOKI were unable to keep up with the bullish bias of PEPE- but among the two, which has a stronger bullish outlook?
AMBCrypto analyzed the on-chain metrics of both SHIB and FLOKI to understand if they might set out on a bullish trajectory soon.The price trend of both FLOKI and SHIB has been bearish since mid-March, but this was only apparent in early April.
At press time, SHIB’s MVRV ratio was still negative, while FLOKI was at +0.54%. This meant that holders of the latter token were slightly at a profit. Both tokens present a buying opportunity given the near-zero or negative MVRV values and the rising mean coin ages. What do the social metrics reveal about market perception?The Weighted Sentiment of both tokens on a 3-day interval was negative, showing social media engagement was more bearish. However, FLOKI has been consistently and heavily negative since late March.The dormant circulation could help settle some doubts.
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