"I'm starving" vs. "I'm starved"

I've heard on some American TV shows "I'm starving" instead of "I'm starved".

What is the correct usage of both sentences?.

Solution 1:

They are both exaggerations of the same thing, namely "I'm very hungry". It seems to make little difference whether the present ongoing tense is used or whether a past tense is used; both are equally valid, and convey the same meaning.

Solution 2:

My personal opinion is that "I'm starving" implies that the state is ongoing, whereas "I'm starved" implies that some kind of limit has been reached.

Solution 3:

Used colloquially, the two phrases are equivalent (I am very hungry). In the UK anyway, the choice between them is regional.

But interestingly, in Lancashire the phrase "I'm starved" can mean "I am cold". Foreign nurses trained to understand Lancashire phrases.