The top memecoins, including Shiba Inu (SHIB), have shown minimal price movement recently, with SHIB down 0.51% over the past week. Despite potential short-term rallies, long-term holder sentiment remains bearish due to two key metrics. The percent of SHIB's circulating supply in profit is at a meager 3.07%, near historical bear market lows. Additionally, the MVRV ratio is significantly below its all-time mean, indicating extreme deviation similar to the 2022 bear market. If these trends repeat, the bear run could persist until September 2026. Even potential positive developments are unlikely to reverse the prevailing pessimistic outlook and bearish price structure.

# MVRV Ratio Related Articles

Shiba Inu’s bear run can continue for another 7 months – Here’s why

Others