Shiba Inu Jumps 27% In 7 Days: What Is Going On?

Shiba Inu SHIB/USD has posted a 27% gain over the past week, with traders now expecting a much larger breakout. Despite a slight dip in whale activity, retail interest appears to be rising as Shibarium adoption continues and tokenomics improve.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Shiba Inu SHIB/USD	$0.00001610	$9.5 billion	+1.6%	+26.6%
Dogecoin DOGE/USD	$0.2342	$34.95 billion	+2.3%	+37%
Pepe PEPE/USD	$0.00001383	$5.8 billion	+2.7%	+74.5%

Trader Notes: Crypto trader CW sees Shiba Inu trying to break through the sell wall. If it breaks through, the next one is at $0.0000224.

According to Coinpedia Markets, SHIB outperformed even high-flying tokens like TRUMP, despite major news events tied to the latter. SHIB is now trading above all major daily and weekly moving averages, with the RSI holding firm at 71, a sign of ongoing strength.

If Shiba Inu breaks resistance at $0.00002148, analysts forecast a move toward $0.00003575, which would mark a 122% rally from recent levels. The price action is also said to mirror the coin's September 2024 breakout setup, further supporting bullish expectations.

Statistics: On-chain growth from Shibarium, including rising accounts, transactions, and new integrations like Zypto, plus Bury 2.0 incentives, are boosting utility and long-term adoption.

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Shibarium, Shiba Inu's Layer-2 scaling solution, is showing strong growth across the board: accounts grew from 240,421 (March 1) to 268,877 (May 10), transactions increased from 931 million to 1.15 billion.

New integrations such as Zypto and Bury 2.0 are helping drive long-term utility and ecosystem stickiness.

Shibburn data shows the burn rate increasing by 2,267.9% in the past 24 hours, with 13.69 million SHIB burned. A single transaction burned 13.69 million SHIB around seven hours ago.

IntoTheBlock data shows Shiba Inu large transaction volume down by 29.8% in a single day, while daily active addresses were up 0.95%. Transactions greater than $100,000 dropped from 161 to 115 in a single day.

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