Top 3 Things to Watch in the Shiba Inu (SHIB) Ecosystem This Week

Top 3 Things to Watch in the Shiba Inu (SHIB) Ecosystem This Week
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The week opens to a relatively bullish trend in the broader digital currency ecosystem, with the combined crypto market capitalization rising 2.71% to $1.12 trillion. Shiba Inu (SHIB) is playing a very subdued role in this broad resurgence with its price now set at $0.000007548, up more than 1.5% in the last 24 hours.

Shiba Inu Trends to Follow

This current Shiba Inu price resurgence has received very intense support amid an increase in its trading volume. Data from CoinMarketCap showed that this trading volume has increased by more than 38% to $103,354,639.

Trends in meme coin trading volume this week are worth watching as they could set the stage for the entire month. Trading volume is a measure of how well the token is being bought and sold in secondary markets, showing its inherent liquidity across the board.

Secondly, it is necessary to closely monitor the trends in Shiba Inu burning rate. Despite over 100 million tokens being sent to dead wallets at the time of writing, according to Shibburn data, an increase in this metric has been negative due to past performances. With further jumps in the SHIB burn rate metric, we could see a reduction in supply that will help fuel the meme coin’s growth sustenance in the near term.

Shibario feeling

Lastly, the trend in the Shibarium ecosystem is also worth watching as it may set a unique tone for continued evolution in the world of meme coins.

With more dApps entering Shibarium, the utility of tokens associated with the protocol, including SHIB, BONE, and LEASH, is sure to grow, generating new and unique growth potential.

These trends could be the guiding mantra as Shiba Inu sets out to make a new story this month.

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