It’s been quite quiet lately for SHIB, the star of 2021. Frankly, investors have run out of patience. However, there have been strong developments recently. We now look at three developments that will increase the price of the Shiba Inu.
Shiba Inu SHIB’s trading volume increase
As the week begins, the broader digital currency ecosystem is witnessing a relatively bullish trend. On the other hand, the total crypto market value increased by 2.71% and reached 1.12 trillion dollars. Within this revival, the Shiba Inu (SHIB) has taken on a modest role. Accordingly, its price is currently at $0.000007548. It reflects growth of over 1.5% in the last 24 hours.
Shiba Inu’s recent price rise has been accompanied by a significant increase in trading volume. According to CoinMarketCap data, trading volume increased by more than 38%. Accordingly, it reached $103,354,639. This increase in trading activity can set the tone for the entire month. It is also an important indicator of the token’s liquidity in secondary markets.
Keep an eye on the SHIB burn rate
Another important factor to monitor is the Shiba Inu kill rate. Despite over 100 million tokens sent to dormant wallets, Shibburn’s latest data shows a decline in this metric due to previous performances.
However, any significant increase in the SHIB burn rate leads to a supply squeeze. It could also potentially fuel further growth for the meme coin in the short term.
Exploring the Shibarium ecosystem
It is also important to follow the developments in the Shibarium ecosystem. More decentralized applications (dApps) are integrating with Shibarium. On the other hand, it is expected that the use of tokens associated with the protocol, including SHIB, BONE and LEASH, will increase. This expansion could spark a new wave of growth potential for the Shiba Inu.
These emerging trends serve as guiding mantras as the Shiba Inu embarks on a potentially history-making journey in the crypto world this month. As market dynamics evolve, it is possible for the Shiba Inu to adapt to these trends. Moreover, the ability to exploit them could play an important role in determining its future trajectory.
The coming time periods are full of surprises for SHIB investors
The three important developments above will be the issues that SHIB investors follow. On the other hand, most people care about the SHIB price at a stage when preparations are being made for the bull season.
Investors and enthusiasts will be watching closely to see how the Shiba Inu navigates these developments. Kriptokoin.com will hope that the meme coin will benefit from its recent resurgence and set new milestones in the crypto space.
60397
