Bitcoin

Shiba Inu

The meme coin sector has bounced back from recent market losses. On August 6, Shiba Inu (SHIB) saw a 20% increase, along with a significant rise in transaction volume and burn rate.Crypto Casino: Check Out Now!Deadpool &amp; Wolverine: Watch Now!Online Casino: Bet In Crypto!Top 50 Instagram accountsOverall, the meme coin market recovered, with its total value climbing above $40 billion, thanks to notable gains from Dogecoin, Pepe, and Bonk Inu.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a2886264bbf1457aac8ffadf7d7e419c.png" /><h3 id="shiba-inu-rebounds-with-strong-indicators-after-market-crash">Shiba Inu Rebounds with Strong Indicators After Market Crash</h3>Shiba Inu was one of the top-performing cryptocurrencies on August 6 and continues to perform well today, recovering approximately 20% from the recent low, according to CoinGecko. The current price is around $0.00001359, although it still represents an 18% decline over the past week.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/179af9ff0ed547ec880bdb66db3bdd8f.webp" />SHIB Price, Source: CoinGeckoThis rebound aligns with the resurgence of <a href="https://cryptosheadlines.com/key-shiba-inu-indicator-surges-50-during-shib-price-surge/" rel="noopener noreferrer nofollow">key indicators within Shiba Inu’s</a> ecosystem. Data from IntoTheBlock reveals a nearly 500% surge in SHIB’s daily transaction volume exceeding $100K, reaching nearly $120 million. Additionally, the burn rate has skyrocketed by 1,244% over the past 36 hours, resulting in over 2.7 million tokens being destroyed.While the USD <a href="https://cryptosheadlines.com/shiba-inu-coin-burns-lots-of-tokens-to-improve-token-value/" rel="noopener noreferrer nofollow">value of the burned tokens</a> is relatively small, ongoing burning efforts could positively influence SHIB’s price. The goal of reducing the circulating supply, combined with a potential rise in demand, may lead to a price rally based on economic principles.In July, the SHIB team burned almost 380 million tokens across 178 transactions. Data shows that about 41% of the total supply, nearly 411 trillion coins, has already been sent to a null address.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a2886264bbf1457aac8ffadf7d7e419c.png" /><h3 id="meme-coin-sector-rebounds-with-significant-gains">Meme Coin Sector Rebounds with Significant Gains</h3><a href="https://cryptosheadlines.com/pepecoin-has-overtaken-dogecoin-and-shiba-inu-in-trading-volumes-due-to-profit-taking-by-early-buyers/" rel="noopener noreferrer nofollow">Shiba Inu</a> is not alone in its recovery; the entire meme coin sector has seen a notable rebound. The market capitalization for meme coins has surged above $40 billion, bouncing back from a recent low of around $33 billion registered on Monday.Dogecoin (DOGE), the largest meme coin, gained 10% on Tuesday. Other notable performers include Pepe (PEPE), which rose by 17%, and Bonk Inu (BONK), the largest Solana-based <a href="https://cryptosheadlines.com/meme-coin-soars-400-after-elon-musk-x-post/" rel="noopener noreferrer nofollow">meme coin</a>, which climbed by 14%.<a href="https://cryptosheadlines.com/worldcoin-expands-to-austria-with-world-id-verifications/" rel="noopener noreferrer nofollow">Also Read: Worldcoin Expands to Austria with World ID Verifications</a>The standout performers in the sector were BRETT (up 32%), MEW (up 35%), POPCAT (up 38%), and NEIRO (up 50%). NEIRO has shown an impressive weekly increase of 280%, despite being recently involved in an insider trading scandal. Its market capitalization has exceeded $200 million, making it the 18th-largest meme coin.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/152dedef2e50492fa6dbc7f5b01283fb.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>Join our official TG Channel: <a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">https://t.me/CryptosHeadlines</a>

Shiba Inu Indicators Surge as SHIB Price Jumps 20%

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