Shiba Inu (SHIB) Poised for Recovery as Trading Volume Surges
Shiba Inu (SHIB) appears to be gearing up for a substantial recovery as its trading volume experiences a significant surge, indicating heightened investor interest in the cryptocurrency. The latest data shows a notable increase in trading activity for SHIB over the past 24 hours.
2.4 Trillion Shiba Tokens Changing Hands
Data from market intelligence platform IntoTheBlock reveals that a staggering 2.4 trillion Shiba Inu tokens were traded within the last day. This influx of trading activity suggests that Shiba Inu whales, large holders of the cryptocurrency, are actively accumulating SHIB tokens. Recent statistics from IntoTheBlock further indicate that these whales traded an additional 3.45 trillion tokens on July 16.
- Whales accumulating large volumes of SHIB tokens
- Recent spike in trading activity coincides with market rebound
- Potential for price discovery and new all-time highs
Whale Accumulation Driving Price Surge
- Whales playing a crucial role in SHIB’s price trajectory
- Accumulation trend could propel SHIB to new highs
- Critical support level at $0.00002 key for price momentum
Shiba Inu’s Fundamental Indicators Point to Price Recovery
Another positive development for Shiba Inu is the significant spike in its burn rate, as reported by the Shibburn website. Data shows that over 8.7 million SHIB tokens were burned in the last 24 hours, marking an 870% increase in burn rate. Additionally, more than 85 million tokens have been burnt over the past week, underscoring the growing demand for SHIB.
Anticipated Launch of SHIB Marketplace
- Upcoming marketplace launch on the Shibarium network
- Expected boost in network activity and token burns
- Utilization of transaction fees for buying and burning SHIB
Furthermore, the imminent debut of the SHIB marketplace on the Shibarium network is poised to further drive token burns and increase overall demand for Shiba Inu.
Despite a slight dip in price, with SHIB currently trading around $0.00001882, the cryptocurrency’s strong fundamentals and growing investor interest point towards a potential price surge and recovery in the near future.
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