Shiba Inu (SHIB) Overview

Shiba Inu (SHIB), a dog-themed meme coin, has battled bearish pressure in the last 30 days. Despite delays in experiencing a breakout, a significant 123.27 trillion SHIB are in profit, according to IntoTheBlock data, representing 36.95% of the total token in circulation.

SHIB Investors Hold Strong Amid Bearish Trends

The volume of SHIB “in the money” has been valued at approximately $1.54 billion. This development signals that the meme coin has continued to thrive despite the market downturn.

Analysts consider this notable given SHIB’s price outlook in the broader cryptocurrency market. At the time of writing, SHIB is changing hands at $0.00001252, reflecting a 3.01% decline in the last 24 hours.

SHIB investors have not engaged in active purchases, as trading volume has plummeted by 19.80% to $143.11 million within the same period.

Amid this downward pressure, SHIB has found support at $0.000012 in the last seven days. This stability might be due to the community’s support in reducing tokens in circulation via the burn mechanism. Notably, the burn rate has soared by 495% in the last 24 hours, with over 14 million SHIB tokens wiped out.

Meanwhile, “out of the money” SHIB represents 59.13%, or 827.32 trillion SHIB in circulation, valued at approximately $10.34 billion. A total of 33.97 trillion SHIB are currently “at the money”, accounting for 3.92% of SHIB, worth about $424.49 million.

Could Growing Adoption Fuel SHIB’s Next Move?

Market watchers opine that SHIB might experience an upward surge soon, given recent interest. A major dormant Ethereum whale has acquired over 64 billion SHIB tokens, seen as a bullish signal since whales typically invest in assets with growth potential.

Another positive indicator for Shiba Inu is the blockchain exceeding 1.5 million holders, suggesting adoption and sustained investor interest—elements that could trigger the next rally.