Shiba Inu Rises to Meet Its Sixth Anniversary
Shiba Inu's price has risen 11% since July 1st, marking its first positive monthly close since April. This surge in value comes on the heels of a 40% rally last weekend that briefly pushed the price higher before some gains were surrendered.
The token has been fluctuating between $0.00000454 and $0.00000484 from July 18 onward, but remains up 11% for the month of July, reversing a months-long downtrend.
Social dominance for the token hit 0.084%, the highest since April 2, reflecting increased buzz and trader engagement. Whale transactions also climbed to levels not seen since the end of March.
A sharp uptick in Shiba Inu token burns has accompanied this resurgence. According to data from Shibburn, July saw a total of 3.25 billion SHIB permanently removed from circulation, with 58.67 million burned in the last 24 hours alone.