{"id":399867,"date":"2024-06-16T18:30:53","date_gmt":"2024-06-16T13:00:53","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=399867"},"modified":"2024-06-17T19:10:59","modified_gmt":"2024-06-17T13:40:59","slug":"will-shiba-inu-shib-drop-down-to-0-000018","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/will-shiba-inu-shib-drop-down-to-0-000018\/","title":{"rendered":"Will Shiba Inu [SHIB] drop down to $0.000018?"},"content":{"rendered":"<ul>\n<li><em>SHIB&#8217;s network was closing in on overvalued levels, and could draw the price down.<\/em><\/li>\n<li><em>Holders accumulated trillions of tokens between $0.000020 and $0.000023, indicating a possible uptrend rejection.<\/em><\/li>\n<\/ul>\n<p>In the last seven days, <a href=\"https:\/\/ambcrypto.com\/category\/shiba-inu-news\/\" target=\"_blank\" rel=\"noopener\">Shiba Inu&#8217;s [SHIB]<\/a> price has decreased by 10.69%.<\/p>\n<p>According to AMBCrypto&#8217;s analysis, this decline might continue in the near term, suggesting that SHIB holders might need to wait a bit longer before a rally appears.<\/p>\n<p>One metric fueling this thesis is the Network Value to Transactions (NVT) Ratio. A high NVT Ratio suggests that the market cap of a token is growing faster than the transfer volume.<\/p>\n<p>Most times, a situation like this coincides with a <a href=\"https:\/\/ambcrypto.com\/shiba-inu-are-more-losses-coming-analyzing-shibs-key-levels\/\" target=\"_blank\" rel=\"noopener\">market top<\/a>. On the other hand, a low NVT Ratio implies that utilization of the network is outpacing the market cap.<\/p>\n<h2>It&#8217;s a struggling period for the token<\/h2>\n<p>Historically, low NVT Ratios have been known to foreshadow bullish trends. For Shiba Inu, the NVT Ratio according to Glassnode, the metric was seen rising.<\/p>\n<p>On the 11th of June, the ratio was 24.58. But at press time, the reading had increased to 86.80.<\/p>\n<p>This increase indicates a <a href=\"https:\/\/studio.glassnode.com\/metrics?a=SHIB&amp;category=Market%20Indicators&amp;m=indicators.Nvt&amp;s=1717847468&amp;u=1718452268&amp;zoom=7\" target=\"_blank\" rel=\"noopener\">shifting narrative<\/a> that support overvaluation of the Shiba Inu network. Therefore, it could be challenging for SHIB&#8217;s price to bounce off the lows.<\/p>\n<figure id=\"attachment_399868\" aria-describedby=\"caption-attachment-399868\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued.png\"><img decoding=\"async\" class=\"size-full wp-image-399868\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued.png\" alt=\"Shiba Inu shows a bearish trend\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-overvalued-1200x675.png 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-399868\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p>At press time, SHIB changed hands at $0.000020. In a previous article, AMBCrypto had <a href=\"https:\/\/ambcrypto.com\/why-shiba-inus-fall-to-0-000020-may-be-inevitable-if-this-happens\/\" target=\"_blank\" rel=\"noopener\">explained<\/a> how the price might decrease to this level.<\/p>\n<p>Now that it has come to pass, another decline might occur. This time, depending on the NVT ratio trend, SHIB could slip to $0.000018.<\/p>\n<p>Beyond the above-mentioned metric, the Exchange Net Position Change also supported the potential fall in price.<\/p>\n<p>A positive value of the Exchange Net Position Change <a href=\"https:\/\/studio.glassnode.com\/metrics?a=SHIB&amp;category=Exchanges&amp;m=distribution.ExchangeNetPositionChange&amp;s=1710691711&amp;u=1718467711&amp;zoom=90\" target=\"_blank\" rel=\"noopener\">indicator<\/a> that the supply ready for sale has increased. Conversely, a negative reading implies that market participants are taking tokens off exchanges.<\/p>\n<h2>Holders are prepared to let go<\/h2>\n<p>Typically, the latter stabilize prices or leads to an increase in the short term. In Shiba Inu&#8217;s case, the Exchange Net Position Change was at a positive sum of 1.13 trillion.<\/p>\n<p>This means this number of tokens are available for sale.<\/p>\n<figure id=\"attachment_399869\" aria-describedby=\"caption-attachment-399869\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply.png\"><img decoding=\"async\" class=\"size-full wp-image-399869\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply.png\" alt=\"SHIB supply on exchanges increase\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-exchange-supply-1200x675.png 1200w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-399869\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p>If this position remains the same over the next few days, SHIB&#8217;s price might be affected.\u00a0 Per the possible targets, the value of the memecoin might <a href=\"https:\/\/ambcrypto.com\/shiba-inu-price-prediction-heres-why-you-need-to-prepare-for-a-13-drop\/\" target=\"_blank\" rel=\"noopener\">shrink<\/a> to $0.000018.<\/p>\n<p>In addition, AMBCrypto analyzed the Global In\/Out of Money indicator. This metric measures addresses in profit or loss and how they can act as support or resistance for prices.<\/p>\n<p>The larger the number of tokens accumulated at a price, the higher the chance of acting as support or resistance.<\/p>\n<p>According to IntoTheBlock, the <a href=\"https:\/\/app.intotheblock.com\/coin\/SHIB\/deep-dive?group=financials&amp;chart=inAndOut\" target=\"_blank\" rel=\"noopener\">difference<\/a> between those that bought at an average price of $0.000019 and those that bought between $0.000020 and $0.000023 was wide.<\/p>\n<figure id=\"attachment_399870\" aria-describedby=\"caption-attachment-399870\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance.png\"><img decoding=\"async\" class=\"size-full wp-image-399870\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance.png\" alt=\"Shiba Inu faces resistance at $0.00002\" width=\"2560\" height=\"627\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance-300x74.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance-1024x251.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance-768x188.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance-1536x376.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance-2048x502.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/shiba-inu-resistance-1200x294.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-399870\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p>Specifically, only 1,720 addresses purchased 452.80 billion SHIB tokens at $0.000019. On the other end, 100,530 addresses accumulated 66.75 trillion SHIB at $0.000023.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" target=\"_blank\" rel=\"noopener\">Shiba Inu&#8217;s [SHIB] Price Prediction<\/a> 2024-2025<\/p>\n<hr \/>\n<p>Therefore, it was evident that the token might face resistance at the upper level.<\/p>\n<p>Should some of these holders decide to break even between $0.000020 and $0.000023, SHIB&#8217;s price might decrease, and the support at $0.000019 might be enough to stop the potential decline to $0.000018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Several on-chain metrics suggest that SHIB&#8217;s price may keep falling.<\/p>\n","protected":false},"author":72,"featured_media":399871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,6388,4,20],"tags":[6428],"class_list":["post-399867","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-shiba-inu-news","category-social","category-trading-view","tag-new-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Will Shiba Inu [SHIB] drop down to $0.000018? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"In the last seven days, Shiba Inu&#039;s [SHIB] price has decreased by 10.69%. 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