Shiba

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/key-drivers-of-coming-shib-power-increase-revealed-by-shib-executive" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> has seen a surge in trading over the past 24 hours, with turnover in perpetual futures on the popular meme token increasing by more than 146%. According to&nbsp;<a href="https://www.coinglass.com/currencies/SHIB1000" rel="noopener noreferrer nofollow">CoinGlass</a> data, the trading volume of SHIB derivatives in a 24-hour period totaled more than $40 million, and that is just for SHIB1000 futures. If we take into account all derivatives on the Shiba Inu token, the turnover is more than $200 million.
In addition, 50% of the trading growth was recorded on SHIB spot markets. According to&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a> data, the turnover of the Shiba Inu token on spot markets in the last 24 hours amounted to more than $191 million. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="58d9777b-f94a-44e5-8ae1-ed5f88d99341" src="https://u.today/sites/default/files/inline-images/shib_228.png">Source: <a href="https://www.coinglass.com/currencies/SHIB1000" rel="noopener noreferrer nofollow">CoinGlass</a>
Interestingly, the growth of Shiba Inu's trading volume has increased as the month of July approaches. The thing is, according to the historical trends presented by CryptoRank, July tends to be a positive month for SHIB.&nbsp;
For example, Shiba Inu's median ROI for the month is 5.3%, and for the past two years,&nbsp;<a href="https://u.today/shiba-inu-shib-surged-2750-in-burned-tokens-will-price-follow" rel="noopener noreferrer nofollow">SHIB</a> has consistently closed the month with double-digit percentage gains. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="7fdb3364-58e9-4afb-99fb-a60d77b29499" src="https://u.today/sites/default/files/inline-images/shibba.png">SHIB to USD by <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Thus, this increase in trading volume and renewed attention on Shiba Inu can potentially be linked to the historically bullish trends observed in July. While it remains to be seen if these patterns will continue, SHIB's return to the spotlight aligns with its previous performance during this time of the year.
Overall, the surge in trading volume highlights the ongoing interest and speculation surrounding&nbsp;<a href="https://u.today/dogwifhat-wif-overshadows-dogecoin-doge-and-shiba-inu-shib-in-key-metric" rel="noopener noreferrer nofollow">Shiba Inu</a>, especially as market participants look to capitalize on its historical trends. The coming weeks will reveal if SHIB can sustain this momentum and deliver the anticipated gains.

Shiba Inu (SHIB) Skyrockets 150% in Volume as July Could Be Bullish

U_Today

Muita 1. heinäk. 2024 julkaistuja artikkeleja

Cryptocurrency Market Sees Positive Turn in Early July

Here’s How ‘Kaspa Killer’ BlockDAG Is Shaking Up the Crypto Market: Impressive $30 Projections Lo...

KangaMoon Takes Off! Did Notcoin’s $3 Million Token Burn Trigger Diversification, AVAX Price Dips

Bitcoin Attempts Upward Movement and Investors Monitor Altcoin Performance

CoinShares Highlights Crypto Investment Trends

June Crypto Report: Hacks, Scams Drain Nearly $200 Million!

Join our free newsletter for daily crypto updates!