Pepe and Shiba Inu Analysis: July Outlook
Pepe (PEPE) and Shiba Inu (SHIB) have traded near their highs recently. Shiba Inu announced plans for a marketplace in Web3 commerce, though no timeline was given.
Pepe faced resistance and has shown less bullish momentum.
Technical Analysis:
- PEPE ranges from $0.0000099 to $0.0000076, currently supported at $0.0000088.
- RSI is below 50, OBV downtrending, indicating potential losses.
- SHIB trades between $0.0000174 and $0.0000127.
- RSI above 50, OBV sideways, suggesting upward momentum.
- SHIB is near its range high, with indicators pointing to a more positive trend than PEPE.
On-Chain Metrics and Valuation:
- PEPE's NVT spiked, suggesting overvaluation. However, MVRV is negative, indicating potential undervaluation.
- PEPE's daily active addresses and mean coin age are declining, showing weakened demand.
- SHIB's daily active addresses were higher than PEPE's on July 13th.
- SHIB's technical and on-chain data suggest a stronger foundation for bullish expectations.
Conclusion:
Shiba Inu (SHIB) has shown a more positive outlook for July than Pepe (PEPE), with stronger technical and on-chain indicators.
Important Note: This article provides informational purposes only and should not be construed as advice.