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#SummerCreationCamp #shib,
SHIB is currently trading at $0.00000541, having reached an intraday high of $0.00000583 with a 27.59% daily increase. According to MarketBeat, it rose 33.95% in 24 hours and 35.04% in 7 days, with volume reaching $605.35 million.
The 5 Real Reasons Behind the Rally:
1. Bitcoin paved the way: BTC recovered by 13% from its July 1 low of $57,750 and consolidated in the $64,000-$66,800 range. Approximately $1 billion flowed into spot BTC ETFs in 7 days, shifting risk appetite back to meme coins.
2. Shibarium exploded: Shibarium DEX volume surged from $17 on July 9 to $275 on July 10, a 1,517% increase. Daily transactions jumped from 1,120 to 5,170, a 361% spike. Total transactions exceeded 1.56 billion.
3. The burn engine kicked in: 70% of Shibarium gas fees go to SHIB burns in BONE. In the last 24 hours, an example of 131 million SHIB burned was seen with a 1,812% increase, and when the network crossed the $25,000 threshold, an 8.2 billion SHIB manual burn was triggered.
4. Exchange outflow + whale accumulation: In the last 24 hours, 176 billion SHIB outflow from exchanges reduced selling pressure. On the other hand, large investor inflows increased from 245 billion to 973.1 billion between July 13-16, showing a 728 billion increase in just 3 days.
5. Meme rotation: While Dogecoin approached its July peak with a 9% jump, meme coin dominance rose again, and SHIB was one of the biggest beneficiaries of this wave as a high-beta asset.
$SHIB
SHIB is currently trading at $0.00000541, having reached an intraday high of $0.00000583 with a 27.59% daily increase. According to MarketBeat, it rose 33.95% in 24 hours and 35.04% in 7 days, with volume reaching $605.35 million.
The 5 Real Reasons Behind the Rally:
1. Bitcoin paved the way: BTC recovered by 13% from its July 1 low of $57,750 and consolidated in the $64,000-$66,800 range. Approximately $1 billion flowed into spot BTC ETFs in 7 days, shifting risk appetite back to meme coins.
2. Shibarium exploded: Shibarium DEX volume surged from $17 on July 9 to $275 on July 10, a 1,517% increase. Daily transactions jumped from 1,120 to 5,170, a 361% spike. Total transactions exceeded 1.56 billion.
3. The burn engine kicked in: 70% of Shibarium gas fees go to SHIB burns in BONE. In the last 24 hours, an example of 131 million SHIB burned was seen with a 1,812% increase, and when the network crossed the $25,000 threshold, an 8.2 billion SHIB manual burn was triggered.
4. Exchange outflow + whale accumulation: In the last 24 hours, 176 billion SHIB outflow from exchanges reduced selling pressure. On the other hand, large investor inflows increased from 245 billion to 973.1 billion between July 13-16, showing a 728 billion increase in just 3 days.
5. Meme rotation: While Dogecoin approached its July peak with a 9% jump, meme coin dominance rose again, and SHIB was one of the biggest beneficiaries of this wave as a high-beta asset.
$SHIB
With Shiba Inu (SHIB) in first place, Pudgy Penguins (PENGU) came second, while Euler (EUL) ranked third.