Shiba Inu (CRYPTO: SHIB) is showing renewed strength, rising 5% in a single day amid bullish developments across its ecosystem, consistent token burns, and broader market momentum.
Trader Notes: Crypto trader Shib Knight noted that Shiba Inu has finally broken the downtrend it's been stuck in since May 13, signaling a potential reversal.
With bullish sentiment returning to crypto markets and on-chain data strengthening the case, SHIB looks ready to run.
Joe Mitoshi, another prominent trader, highlighted that SHIB's long-term chart is flashing bullish signals.
If it breaks above the 1:1 line, he says it could trigger a major rally. "Time to prepare and position accordingly," he advised.
Statistics: Shibburn data shows 60.16 million SHIB was burned in the last seven days.
Shibariumscan data shows daily transactions have maintained above the 4 million mark for more than a month.
IntoTheBlock data shows Shiba Inu large transaction volume expanded by 32.4%, while daily active addresses inched higher by 0.03%. Transactions greater than $100,000 increased from 37 to 44 in a single day.
Community News: Shiba Inu lead developer Shytoshi Kusama stressed that revenue generation, not just utility, is essential for a sustainable crypto project.
Echoing SHIB commentator Luis Delgado, Kusama said SHIB has always focused on building on-chain revenue streams, and a new strategic plan is in the works to strengthen its market position.
Kusama also teased the upcoming release of an AI-focused paper under the initiative “JUL-AI,” with several updates and roadmap milestones expected throughout July.
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