[Shiba Inu adoption jumps 36%, transaction volume between $1 million and $10 million surges 150%]
Despite price volatility and weekly pullbacks, Shiba Inu Coin (SHIB) has seen significant recent changes in adoption and volume.
According to data from IntoTheBlock, Shiba Inu Coin’s new adoption rate fluctuated significantly from July 18 to July 25, rising from 33% to 36.16%. During this period, adoption dropped significantly around July 20 and stabilized towards the end of the month. The 30-day average new adoption rate is 33.56%, reaching a high of 40.12% on June 28 and falling to a low of 17.40% on June 30. These data suggest that while new adoption rates are rising, the impact on SHIB prices will be limited.
The lack of a strong correlation between short-term adoption changes and prices suggests that longer-term adoption trends and activity may be more influential on prices.
At the same time, transaction volume increased significantly. Shiba Inu coin transactions worth between $1 million and $10 million have grown 150% in the past 30 days. Other categories also saw changes, such as a 26% increase in transactions worth less than $10 and a 47.37% decrease in transactions worth between $100,000 and $1 million. The increase in large-scale transactions may indicate that large investors are becoming more confident in Shiba Inu Coin.
SHIB token-related events frequently attract attention, increasing curiosity and engagement among new users. For example, on July 18, an exchange in India was hacked, resulting in the theft of more than 5 trillion SHIB tokens. During this period, SHIB’s burn rate surged by 4,822%, with 44,302,985 tokens destroyed in 24 hours.
In addition, the Shiba Inu Coin team previews new developments every week. The latest development is that Shiba Eternity, a well-known digital card game, is getting ready for major changes with Web3 integration.
