Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC 
ETH 
SHIB 
SOL 
XRP SHIB followed the market's rebound and rose by 7%, but the performance of major assets was stronger.
As the cryptocurrency market generally recovered, the price of SHIB rose by about 7%, but the increase was not as good as that of many mainstream digital assets. Ethereum surged nearly 18%, while Solana and XRP both recorded double-digit gains. Bitcoin also rebounded sharply as traders returned to risky assets. SHIB traded at around US$0.000047 during the recovery. This increase reflects more the strengthening of the overall market rather than the emergence of a new catalyst for Shiba Inu itself. This difference may be important for traders who follow the trend of SHIB closely.
SHIB rose as cryptocurrency traders returned to risky assets
This round of recovery in SHIB followed the overall improvement in the cryptocurrency market. During the rebound, the total market value of cryptocurrencies increased by more than 8%. A wave of massive liquidations has forced short traders to liquidate leveraged positions. Bitcoin rose strongly as market sentiment improved. Lower long-term Treasury yields also provide support for the risk-appetite environment. The United States has stepped up government bond repurchase efforts, pushing yields downward during trading hours. In addition, the market's renewed optimism about the prospects of Washington's cryptocurrency policy has also given impetus to the market. Traders have therefore increased their allocation of high-risk cryptocurrencies. Meme coins often benefit when investors have increased confidence in speculative assets. SHIB has also benefited from this shift in sentiment. However, the strong performance of Ethereum and Solana highlights the relative weakness of SHIB.
Ethereum rose nearly 18%, and Solana rose more than 10%. The current performance is different from the March rally of SHIB. At that time, Shiba Inu's increase exceeded that of many mainstream cryptocurrencies. Demand for Meme coins and more active derivatives trading drove previous gains. As a result, from the perspective of the SHIB itself, Thursday's rise seemed unconvincing. Traders did push up the price of the token, but the main support was overall market liquidity.
Shibarium's online activity has improved
There have been some positive developments in the Shiba Inu coin ecosystem recently. On August 9, the Shibarium Network processed approximately 4480 daily transactions. This was a 507% increase from the previous day's 738 transactions. This figure also set the highest level of activity for Shibarium in nearly a month. However, the transaction volume and total value of locked positions on this network's decentralized exchange are still relatively limited.
These factors limit the impact of trading volume growth. The increase in activity is more meaningful only when users simultaneously create stronger economic activities. At present, Shibarium still needs to gain more in-depth use in decentralized applications. SHIB holders are also continuing to pay attention to the network's token destruction mechanism. In July, more than 3.2 billion SHIB tokens were withdrawn from circulation.
However, compared to the huge circulation supply of SHIB, this destruction scale is still small. There are currently approximately 589 trillion SHIB coins in circulation. Therefore, destruction alone may not have a significant impact on short-term price trends. Overall market liquidity remains the more powerful force behind recent SHIB price trends. The continued rise in Meme coins may bring additional upside for SHIB. However, the strong performance of other competing assets remains a concern.
