Shiba Inu’s unusual moves: Will SHIB lose another 20%?
  • A sharp increase in average coin age indicates that the price of SHIB will fall further.
  • Exchange Netflow volume is negative, suggesting it may be stable.

May 5th, Shiba Inu 90 Day Average Coin Age (MCA) [SHIB] AMBCrypto noticed that the network suddenly jumped. As the name suggests, MCA is the average age of all tokens on the blockchain.

However, the concept of coin age does not only consider whether a token is old or young. Because indicators are correlated with prices.

Seniors are leaving

Historically, a lower MCA means more coins are being retired to wallets.

In the short term, this movement indicates that holders have no intention of selling. As such, the prices of the associated tokens may not face significant declines.

on the other hand, MCA spikes, as with the Shiba Inu, suggests that old coins are transferring assets to another residence. In most cases, it will be replaced.

Shiba Inu prices are facing further decline

Source: Santimento

Therefore, the price of SHIB may fall further. At the time of writing, SHIB has modified his trade at $0.000024.

It has fallen 8.22% in the past 30 days. If the above indicators continue to rise, the value of the token may fall below this price.

But AMBCrypto thought: another indicator To assess whether an impending decline is reasonable. In this part, we considered social advantages.

As of this writing, the Shiba Inu’s social dominance has increased to 1.2. This increase suggests increased discussion about this project compared to the other 99 in the top 100.

SHIB is considering moving to $0.000019

In terms of price action, an increase in social dominance may be a good thing. However, if it rises too high, SHIB prices may become impatient and a sharp decline may be imminent.

In this case, SHIB could fall by another 20% and the price could remain at $0.000019. Moreover, the daily volatility showed that this prediction may be possible.

Shiba Inu volatility decreasesShiba Inu volatility decreases

Source: Santimento

At the time of writing, volatility had fallen to 0.15, according to on-chain data. This decline suggests that the meme coin may not experience significant price fluctuations anytime soon.

Therefore, those expecting a rally to $0.000030 may need to lower their estimates. From the looks of it, the short-term price range for the Shiba Inu could be between $0.000019 and $0.000023.

In the meantime, the token could benefit from: Data from Glassnode. According to his Glassnode analysis by AMBCrypto, Exchange Netflow volume was -86.58 billion.

This indicator is the difference between the amount flowing into the exchange and the amount leaving the exchange. If this indicator is positive, it means that more tokens have flowed into the exchange than have been withdrawn.

Therefore, a negative reading means that more SHIB holders have taken their tokens out of most exchanges.

Shiba Inu negative exchange processShiba Inu negative exchange process

Source: Glassnode


read a book about shiba inu [SHIB] Price prediction for 2024-2025


If this number of withdrawn tokens continues to grow, Shiba Inu could find a balance and a notable fix could come off the table.

However, if the numbers change into the green zone, the expected decline could be validated.

Next: Bitcoin: How long should we wait for BTC to rise to $71,000?

Related Article

0 Comments

Leave a Comment