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Can Shiba Inu Price Recover as Age Consumed & Falling MVRV Signal Bottom?

Discover whether Shiba Inu price can recover after an 8% crash. Will a spike in the Age Consumed metric and a falling 30-day MVRV aid gains?
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Can Shiba Inu Price Recover as Age Consumed & Falling MVRV Signal Bottom?

Highlights

  • Shiba Inu price has crashed by 8% today, May 31, as high volatility impacts meme coins.
  • SHIB's Age Consumed Metric has spiked signalling that the price could have hit a local bottom.
  • The 30-day MVRV ratio has also plunged to -10% indicating that SHIB holders who bought in the last 30 days are sitting on a 10% loss.

Shiba Inu (SHIB) price is mimicking historical patterns as two on-chain metrics signal the formation of a local bottom. The Market Value to Realized Value (MVRV) ratio is falling amid a spike in the age consumed. These metrics are flipping bullish after a steep decline in Shiba Inu price in the last seven days, as most meme coins struggle against a bearish market sentiment.

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Shiba Inu Price Today Amid 8% Crash

Shiba Inu price has posted an 8% intraday loss today, May 31, as it fluctuates between a daily low of $0.0000123 and a daily high of $0.0000133. At press time, SHIB trades at $0.0000125 with $289 million in 24-hour trading volumes.

Shiba Inu Price Today

The declining Shiba Inu price coincides with the recent meme coin crash, as the entire meme token market cap shed $10 billion in value within a week. The sell-side pressure from long liquidations and traders looking to minimize losses is also causing bearish headwinds.

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On-Chain Metrics Signal Bottom

Two on-chain metrics from analytics platform Santiment indicate that the SHIB price is mirroring previous patterns where the price bounces after seemingly forming a local bottom. These metrics include:

  • A spike in Age Consumed
  • Falling 30-day MVRV Ratio

Shiba Inu’s Age Consumed Metric Spikes

The Age Consumed metric from Santiment has surged to 580 trillion SHIB, marking its highest level since May 20 and representing an over 1,500% increase from the previous day. The spike happened as the Shiba Inu price fell to multi-week lows.

Shiba Inu Age Consumed

This metric usually shows the number of old or dormant coins that are on the move. When the metric spikes, long-term holders are likely dumping SHIB, and once the selloff ends, the price has room to recover.

Looking at the previous trends, any large spike in the Age Consumed metric tends to coincide with SHIB’s bottom. This happened on May 5, May 12, and May 30, where a short-term relief rally ensued shortly after this metric surged.

Meanwhile, this surge coincides with a recent Coingape analysis noting that Shiba Inu price may rebound to $0.00002 next week after forming a bullish “Rising Three Methods” pattern.

30-day MVRV Falls as Shiba Inu Price Drops

The 30-day MVRV ratio has also declined to its lowest point since March, as seen in the chart below. This ratio is currently at -10%, indicating that the current SHIB holders who purchased their tokens in the last 30 days are sitting on a 10% loss.

SHIB MVRV Ratio

Just like the Age Consumed, the MVRV has previously signalled SHIB’s bottom. Each time the metric plunged to extremely negative levels, like is currently the case, SHIB price recorded an upswing.

Despite these bullish metrics, 2 trillion SHIB tokens flooded exchanges recently, posing concerns about a potential spike in selling activity that may derail recovery.

For a more detailed Shiba Inu price forecast between 2025 and 2050 – Read This.

Bottomline

Shiba Inu price has crashed with an 8% intraday loss as meme coins shed $10 billion in their value within one week. However, the Age Consumed metric has spiked alongside a fall in the MVRV ratio, a trend that previously coincided with a local bottom formation.

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muthoni

Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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