{"id":627435,"date":"2024-07-02T14:00:03","date_gmt":"2024-07-02T14:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=627435"},"modified":"2024-07-02T13:35:51","modified_gmt":"2024-07-02T13:35:51","slug":"shiba-inu-burn-rate-volume","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-burn-rate-volume\/","title":{"rendered":"Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170%"},"content":{"rendered":"

Shiba Inu (SHIB)<\/span><\/a> has begun July on a positive note, with several <\/span>on-chain metrics<\/span><\/a> painting a bullish signal for the second-largest meme coin by market cap. These bullish developments could provide the much-needed turnaround for the meme coin, which had a <\/span>June to forget<\/span><\/a>.\u00a0<\/span><\/p>\n

SHIB\u2019s Burn Rate Surges By 16,854%<\/h2>\n

Data<\/span><\/a> from the <\/span>burn tracking website Shibburn<\/span><\/a> shows that Shiba Inu\u2019s burn rate spiked by over 16,854% in the last 24 hours, with over 300 million Shiba Inu tokens burned during this period. This is massive for the meme coin, given the positive impact the <\/span>token burns<\/span><\/a> have on its price. These token burns help decrease SHIB’s circulating supply, which ultimately drives up its price, especially if the demand for the meme coin is on the rise.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won\u2019t Go Below This Level<\/a><\/div>\n

Interestingly, on-chain data shows that the demand for Shiba Inu is rising, with investors regaining their bullish sentiment towards the meme coin and looking to add to their positions. This is based on data from the <\/span>Market Intelligence platform IntoTheBlock<\/span><\/a>, which shows that the concentration metric has turned bullish, meaning that Shiba Inu whales and investors are adding to their positions.\u00a0<\/span><\/p>\n

The demand for Shiba Inu is also evident in its spot and derivatives trading volume, which have spiked since the beginning of this month. Data from CoinMarketCap <\/span>shows<\/span><\/a> that over $191 million in SHIB was traded in the last 24 hours. Additionally, <\/span>data<\/span><\/a> from Coinglass shows that SHIB’S derivatives trading volume has surged by 170% in the last 24 hours.\u00a0<\/span><\/p>\n

The increased demand for Shiba Inu is also significant, considering how much the meme coin declined in June due to the Shiba Inu whales who <\/span>offloaded a considerable amount<\/span><\/a> of their holdings. The meme coin also took a severe hit in June because of its strong positive price correlation with Bitcoin.\u00a0<\/span><\/p>\n

However, Shiba Inu is expected to enjoy a price recovery as the flagship crypto is rebounding nicely. History also suggests that this month will be bullish for the meme coin, with <\/span>data<\/span><\/a> from Cryptorank showing that SHIB has ended the last two Julys in the green.\u00a0<\/span><\/p>\n

Shiba Inu Bullish Fundamentals<\/h2>\n

Coinbase Derivatives is already <\/span>finalizing plans<\/span><\/a> to list the first-ever US-regulated Shiba Inu futures contract. The crypto exchange revealed in its <\/span>filing<\/span><\/a> to the Commodity Trading Futures Commission (CFTC) that it plans to list SHIB’s future contacts on or after July 15. This move is bullish as it could help expand the meme coin\u2019s adoption, especially among <\/span>institutional investors<\/span><\/a>.<\/span><\/p>\n

Related Reading: Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level<\/a><\/div>\n
\"Shiba
Source: Coinbase<\/figcaption><\/figure>\n

Furthermore, listing a regulated futures market for SHIB could also set the stage for the launch of a <\/span>Shiba Inu Spot ETF<\/span><\/a>. Bloomberg analysts James Seyffart and Eric Balchunas have hinted at different times that the <\/span>Securities and Exchange Commission (SEC)<\/span><\/a> is unlikely to approve a Spot crypto ETF without a regulated futures market.\u00a0<\/span><\/p>\n

\"Shiba
SHIB price recovers | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB) has begun July on a positive note, with several on-chain metrics painting a bullish signal for the second-largest meme coin by market cap. These bullish developments could provide the much-needed turnaround for the meme coin, which had a June to forget.\u00a0 SHIB\u2019s Burn Rate Surges By 16,854% Data from the burn tracking website Shibburn shows that Shiba Inu\u2019s burn rate spiked by over 16,854% in the last 24 hours, with over 300 million Shiba Inu tokens burned during this period. This is massive for the meme coin, given the positive impact the token burns have on its price. These token burns help decrease SHIB’s circulating supply, which ultimately drives up its price, especially if the demand for the meme coin is on the rise.\u00a0 Related Reading: Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won\u2019t Go Below This Level Interestingly, on-chain data shows that the demand for Shiba Inu is rising, with investors regaining their bullish sentiment towards the meme coin and looking to add to their positions. This is based on data from the Market Intelligence platform IntoTheBlock, which shows that the concentration metric has turned bullish, meaning that Shiba Inu whales and investors are adding to their positions.\u00a0 The demand for Shiba Inu is also evident in its spot and derivatives trading volume, which have spiked since the beginning of this month. Data from CoinMarketCap shows that over $191 million in SHIB was traded in the last 24 hours. Additionally, data from Coinglass shows that SHIB’S derivatives trading volume has surged by 170% in the last 24 hours.\u00a0 The increased demand for Shiba Inu is also significant, considering how much the meme coin declined in June due to the Shiba Inu whales who offloaded a considerable amount of their holdings. The meme coin also took a severe hit in June because of its strong positive price correlation with Bitcoin.\u00a0 However, Shiba Inu is expected to enjoy a price recovery as the flagship crypto is rebounding nicely. History also suggests that this month will be bullish for the meme coin, with data from Cryptorank showing that SHIB has ended the last two Julys in the green.\u00a0 Shiba Inu Bullish Fundamentals Coinbase Derivatives is already finalizing plans to list the first-ever US-regulated Shiba Inu futures contract. The crypto exchange revealed in its filing to the Commodity Trading Futures Commission (CFTC) that it plans to list SHIB’s future contacts on or after July 15. This move is bullish as it could help expand the meme coin\u2019s adoption, especially among institutional investors. Related Reading: Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level Furthermore, listing a regulated futures market for SHIB could also set the stage for the launch of a Shiba Inu Spot ETF. Bloomberg analysts James Seyffart and Eric Balchunas have hinted at different times that the Securities and Exchange Commission (SEC) is unlikely to approve a Spot crypto ETF without a regulated futures market.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":627451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[83668,86002,89178,92123,83667,89157,86437,84562,84558],"class_list":["post-627435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-shib","tag-shib-burn","tag-shib-news","tag-shib-price-shiba-inu-burn","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Starts July On A High Note: Burn Rate Surges 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170%","url":"http:\/\/ktsl888.com\/shiba-inu\/shiba-inu-burn-rate-volume\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/shiba-inu\/shiba-inu-burn-rate-volume\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Dogecoin-price.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Dogecoin-price.jpeg?fit=1792%2C1024"},"articleSection":"Shiba Inu","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shib burn","shib news","shib price shiba inu burn","shiba inu","shiba inu news","shiba inu price","shibusd","shibusdt"],"dateCreated":"2024-07-02T14:00:03Z","datePublished":"2024-07-02T14:00:03Z","dateModified":"2024-07-02T14:00:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170%\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/shiba-inu\\\/shiba-inu-burn-rate-volume\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/shiba-inu\\\/shiba-inu-burn-rate-volume\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Dogecoin-price.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Dogecoin-price.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Shiba Inu\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shib burn\",\"shib news\",\"shib price shiba inu burn\",\"shiba inu\",\"shiba inu news\",\"shiba inu price\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2024-07-02T14:00:03Z\",\"datePublished\":\"2024-07-02T14:00:03Z\",\"dateModified\":\"2024-07-02T14:00:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Dogecoin-price.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/627435"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=627435"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/627435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/627451"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=627435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=627435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=627435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}