Shiba Inu Price Drop Pushes 11 Trillion SHIB Tokens into Loss

Shiba Inu (SHIB) has declined by 10% in just one week, mimicking the decline seen with other meme tokens. This decline in Shiba Inu price has led to the daily on-chain transaction volumes in losses rising to 10.97 trillion SHIB. Meanwhile, the Age Consumed Metric has also reached the highest level since March.

At press time, SHIB price trades at $0.0000129 with trading volumes of $142 million per CoinMarketCap data. Within 24 hours, Shiba Inu fluctuated between a daily low of $0.0000127 and a daily high of $0.000013. This top meme coin sits 85% below its all-time high price.

Shiba Inu Price Dip Pushes 11 Trillion SHIB Into Loss

The daily on-chain SHIB transactions in loss recently surged to 10.97 trillion tokens, marking the highest level since November 2024. This spike indicates a notable increase in realized losses as investors move or sell SHIB tokens at a price lower than what they acquired them for.

This increase reinforces the bearish sentiment that has been dragging Shiba Inu price down. However, it can indicate capitulation if the weak hands that panic-sold during the drop exit the market, giving SHIB price room to recover.

However, historical data shows that each time the daily on-chain losses increased as the Shiba Inu price was dropping, it accelerated the downward trend. The losses also coincide with declining interest in the Shibarium layer two network, which has caused a notable decline in the SHIB burn rate.

Shiba Inu Age Consumed Metric Surges

As the daily on-chain transactions in loss surge, Shiba Inu’s Age Consumed metric has increased to the highest level since mid-March, a sign that long-term holders have suddenly become active and are capitulating.

While this signals a selloff, historical patterns show that whenever there was a large spike, the Shiba Inu price recorded a strong bounce to the upside.

On May 5, SHIB’s Age Consumed metric spiked, and Shiba Inu price reacted by jumping from $0.000013 to $0.000017. In late March, Shiba Inu surged by more than 7% within days after the Age Consumed metric increased.

Meanwhile, a recent CoinGape analysis revealed that Shiba Inu price could rally by 400% as it tests a key resistance level. Such a rally will mirror the late 2024 bull fractal that pushed SHIB price to $0.000045 within months.

Final Thoughts

Shiba Inu price has declined by 10% in the last week, with the downtrend mirroring the losses recorded across the crypto market since June began. The dip has caused a surge in daily on-chain transaction volumes in losses, to nearly 11 trillion, while the Age Consumed metric signals a massive selloff.

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