The Shiba Inu price has been trading sideways over the past 24 hours, dipping a mild 1.5% and hovering near the $0.000013 mark. Weekly losses still sit at 15.4%, part of a broader altcoin correction.
But behind the scenes, multiple on-chain metrics suggest this SHIB crash might be losing steam. From plummeting exchange reserves to whales scooping up more tokens and a massive drop in old token movement, a SHIB price rebound looks possible.
Age Consumed Plummets 99.7%: Holder Confidence?
Age Consumed tracks the movement of older SHIB tokens; essentially, coins that haven’t moved in a long time. This metric spikes when long-term holders start moving or selling their assets.
Historically, SHIB’s local price peaks in May and June aligned with age-consumed spikes. But this time, something’s different.
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Despite SHIB making a local top around 0.000015 earlier this month, the age consumed metric barely flinched. As of now, it has dropped to just 13.92 trillion. That’s a 99.7% decline from mid-June levels, when the price was around $0.000012.
This low movement suggests long-term holders are staying put. There’s no panic sell-off from older wallets, which often drives deeper corrections. Instead, the absence of old coin movement shows confidence and could act as the foundation for SHIB’s next rebound leg.
Age Consumed is calculated by multiplying the number of tokens moved by the number of days since they were last moved. A sharp rise signals older coins being dumped. A drop, as is the case with SHIB, implies long-term holders aren’t selling.
Exchange Reserves Fall as Whales Add 2.57 Billion SHIB
While age consumed reveals that old holders are staying put, exchange reserves show tokens are leaving centralized exchanges. SHIB’s exchange reserves dropped from 84.55 trillion on July 22 to 84.35 trillion on July 25; a net outflow of 200 billion SHIB in three days.
This trend suggests investors are moving tokens to cold storage, reducing sell pressure, even though the numbers aren’t insanely high.
Whales are also clearly active. According to Nansen’s 30-day data, whale wallets increased their holdings by 2.58 billion SHIB, worth approximately $38,651 at current prices. The total whale supply now stands at 107.45 billion SHIB.
This kind of consistent whale buying usually indicates quiet accumulation.
Less SHIB on exchanges means less risk of dumping. More SHIB in whale wallets suggests high-conviction buying. Combined, these trends point to support for a SHIB price bottom near current levels.
Shiba Inu Price Holds Key Support; Fibonacci Suggests Rebound Zone
SHIB’s price is currently hovering near $0.000013, a critical zone. When we draw a Fibonacci retracement from the June low of $0.000010 to the swing high of $0.000015, the $0.000013 zone sits right at the 0.5 level.
If the Shiba Inu price manages to hold onto the $0.000013, even reclaiming $0.00001371 in the process, the rebound hypothesis might get completely validated.
But then, a break under $0.000013, led by increasing exchange reserves and/or even a spike in the age consumed metric, can invalidate the optimistic view.
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