Summary Shiba Inu recorded its first positive monthly performance since April as stronger whale activity, burns and holder growth reinforced sentiment. Burn activity removed 3.25 billion SHIB
Shiba Inu (SHIB) is on track to post its first positive monthly performance since April, with the meme cryptocurrency gaining more than 11% in July despite surrendering some of its recent rally. The recovery has coincided with higher token burns, stronger whale participation, and rising community engagement, reflecting improving sentiment following two consecutive losing months.
SHIB traded at approximately $0.000004647 at the time of writing, posting a 0.73% daily gain while extending its weekly advance to more than 12%. Although the token pulled back from its recent peak, it maintained enough momentum to keep its monthly recovery intact.
Market activity also intensified during the month. Social dominance climbed to 0.084%, marking its highest reading since April 2, while whale transactions reached their strongest level since late March. Those metrics pointed to renewed interest from both retail participants and large investors.
Earlier in the week, SHIB rallied nearly 40% before profit-taking reduced part of those gains. The token briefly reached approximately $0.0000058 before retreating toward the $0.00000484 region, where price action later stabilized within a relatively narrow trading range.
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Besides the improving price performance, on-chain data showed growing ecosystem participation throughout July. SHIB has traded between roughly $0.00000454 and $0.00000484 for an extended period, suggesting buyers have continued to defend key support levels despite recent volatility.
Data from Shibburn showed that approximately 3.25 billion SHIB tokens were permanently removed from circulation during the past 30 days. Much of that burn activity coincided with the recent rally, as millions of tokens were transferred to inaccessible wallets, reducing the available circulating supply.
Source: TradingView
Additionally, burn momentum remained elevated beyond the initial price surge. Around 58.67 million SHIB tokens were burned during the previous 24 hours, while the daily burn rate increased by more than 3,600%, highlighting sustained participation from the community.
Network expansion also strengthened the overall outlook. During July, more than 78,000 new wallet addresses joined the Shiba Inu ecosystem, bringing the total number of holders to approximately 1,678,280. Consequently, both user growth and deflationary activity supported the token’s strongest monthly showing in several months.
July’s rebound has renewed market interest in Shiba Inu following a prolonged period of selling pressure. While the token no longer trades near its recent high, its ability to retain double-digit monthly gains suggests buying interest has remained resilient.
Growing whale activity, expanding holder numbers, and sustained token burns have collectively strengthened market participation. Those developments have positioned SHIB to begin August with improved momentum compared with the previous two months.
Shiba Inu closed July with renewed strength as improving on-chain activity, accelerating token burns, and expanding wallet growth supported its first positive monthly performance since April. The combination of stronger participation and resilient price action has shifted attention toward whether the recovery can extend into the new month.
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The post Shiba Inu Eyes First Positive Monthly Close Since April as Burns and Holder Growth Accelerate appeared first on 36Crypto.
