Multiple Shiba Inu Metrics Go Green—Recovery?



Shiba Inu (SHIB), a meme coin about dogs, has improved in numerous critical indicators despite recent price drops. This bullish event may indicate a meme coin price rebound from negative patterns.


Positive Momentum in Shiba Inu Metrics


The second-largest meme currency by market value, Shiba Inu, has increased in numerous key measures, signaling a market attitude change.




According to IntoTheBlock, Shiba Inu's 7-day volume of major transactions of $100,000 or more has increased 430% to $32.5 million. IntoTheBlock considered Shiba Inu quite optimistic because to its 0.22% net network growth and significant transactions.


A rising daily SHIB burn rate is another important indicator for Shiba Inu. Over 2.37 million SHIB have been moved to dead wallets, increasing Shiba Inu burn rates by 7,334.38%, according to Shibburn.


Over the last 30 days, CryptoQuant data shows that Shiba Inu's exchange net flow has overwhelmingly favored inflows. This beneficial outcome suggests a move from centralized to self-custody exchanges.


Back in July, Shiba Inu fell more than 10%. In addition, some major cryptocurrency measures failed significantly, highlighting its slow performance amid market turbulence.


In June, Shiba Inu's open interest fell 40% to $80 million from $135 million. The price of SHIB dropped when the Shibarium network's daily transaction fell by 50%.


The drop in SHIB burn rates reached 98.79%, with fewer than one million tokens burned. The recent improvement in Shiba Inu's main KPIs gives the cryptocurrency optimism of a strong price rebound after months of hardship.


Often, meme-based cryptocurrencies are affected by market movements and optimistic tendencies. A favorable market attitude movement might suddenly boost meme coins, while a negative one could cause significant drops.


Shiba Inu's stock has fallen 5.22% in the last week and 2.76% in the previous seven days despite recent improvements in its key indicators.

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