How to Analyze SHIB?

Author: lesley@footprint.network 
Data Source: SHIB Token Dashboard (Only data on Ethereum included)

Token analysis plays a pivotal role in the realm of cryptocurrency and digital assets. It is the process of delving deep into the data and market behaviors associated with these assets. It is a detailed process that involves thoroughly examining price and liquidity connected to these assets.

By analyzing tokens, we gain invaluable insights into market trends, risk factors, trading activities, and the direction of capital flows.

SHIB is the primary token in the Shiba ecosystem, representing a decentralized and community-driven cryptocurrency. It emerged in late 2020 and has quickly become a global sensation. 

SHIB is now accepted as a valid payment method at numerous venues, either through direct transactions or via third-party services. The inclusion of governance features has elevated SHIB to a prestigious token, ranking it among the top 20 cryptocurrencies globally.

How to Analyze SHIB?

Token Price Analysis: Understanding Market Cap and Price Fluctuations

As of January 22, 2024, the token's price is approximately 0.00000927, which indicates a decrease of about 16.30% over the last month. Analyzing this price trend through diagnostic analytics provides insights into the token's performance and potential predictive trends.
Picture: Daily Token Trading Amount & Value

Trading Value Insights: A Diagnostic Tool in Crypto Analytics

The token's trading volume is currently around 17,879,696.93. Various data analytics reveal the dynamic nature of market activity and offer valuable insights into investor behavior and market sentiment.
SHIB Daily Token Trading Value in CEXs

Net Flow Analysis in CEX: Identifying Trends in Investor Behavior

To gain a deeper understanding of investor behavior, it is essential to analyze the net flow of tokens in and out of centralized exchanges (CEXs). This analysis not only tracks the quantity of tokens moving into and out of exchanges but also examines the broader implications of these movements in relation to market trends, investor confidence, and liquidity.

In the context of SHIB recently, the dominant outflow trend could imply that investors are transferring tokens to private wallets, possibly as a strategy for long-term holding or due to concerns over the stability and security of exchanges.
SHIB Token Holder List

Token Centralization: A Descriptive Analytics Approach

To understand market integrity and susceptibility to manipulation, it is crucial to evaluate token centralization. By analyzing the distribution of tokens among top holders, we can gain insights into the influence of whale investors and the overall health of the token market.

Track the Data of SHIB Token with Footprint

What's more, you can also perform highly customized analyses using Footprint's versatile features. Here are the key advantages:

• Rich Reference Data: The platform provides extensive reference data, enabling users to gain a deeper understanding of various aspects of cryptocurrencies. This wealth of information aids in making informed investment and trading decisions.
• Versatile Data Access: Users can access data in various ways, including APIs, dashboards, and batch downloads. This flexibility caters to different user preferences and needs, whether they are developers or non-technical users.
• Multi-Dimensional Data: The platform offers data across multiple dimensions and levels, allowing users to conduct detailed drill-down analyses. This hierarchical data structure empowers users to gain comprehensive insights into the cryptocurrency market.

Token analysis is crucial as it provides insights into market trends and risks, aiding investors and traders in making informed decisions. It serves as a compass in the volatile cryptocurrency landscape, helping navigate opportunities and threats.

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