Cryptocurrency
Can Shiba Inu Price Recover as Age Consumed & Falling MVRV Signal Bottom? – Crypto News
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. 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… Read More at Coingape.com
The post Can Shiba Inu Price Recover as Age Consumed & Falling MVRV Signal Bottom? appeared first on CoinGape.
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