On 5 May, the 90-day Mean Coin Age (MCA) on the Shiba Inu [SHIB] network suddenly jumped, AMBCrypto noticed. As the name implies,
network suddenly jumped, AMBCrypto noticed. As the name implies, the MCA is the average age of all tokens on a blockchain.
However, the coin age concept does not only concern itself with whether a token is old or young alone, as the metric correlates with price.Historically, a low MCA implies that more coins are being retired to a wallet. In the short term, this movement is a sign that holders are not willing to sell. As such, the price of the token involved might not face a severe decline., like it was with Shiba Inu, suggest that old coins are transferring their assets to another residence. In most cases— an exchange.In the last 30 days, this was an 8.22% decline. If the metric mentioned above continues to rise, the value of the token might drop below this price.As of this writing, Shiba Inu’s social dominance had risen to 1.2.
If this is the case, SHIB might tumble by another 20%, and this could leave the price at $0.000019. Furthermore, the one-day volatility showed that this prediction could be possible.At press time, on-chain data showed that volatility was down to 0.15. This decline implies that the memecoin might not experience massive price fluctuations soon.to $0.000030 might need to lower their presumption. From the look of things, Shiba Inu’s price range in the short term could be between $0.000019 and $0.
If this number of tokens withdrawn continues to rise, then Shiba Inu might find a balance, and a notable correction could be off the table.Victor Olanrewaju is a full-time journalist at AMBCrypto. Settled in Lagos, his fascination with blockchain technology and the cryptocurrency market arose out of his love of freedom and everything free. As a Nigerian, Victor understands the impact unfounded financial restrictions have on a population.
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