Shibarium, which is Shiba Inu's L2, saw a decline in activity over the last 24 hours. According to Shibariumscan explorer, the daily transaction count on the Shibarium blockchain fell from 5,170 recorded on July 10 to 1,280 on July 11, a 75% drop.
After weeks of constant pressure to sell, Shiba Inu is finally beginning to show signs of life. Fresh market data indicates that buyers are starting to return, with spot flows turning decisively positive and suggesting a potential shift in short-term sentiment, even though the meme coin is still trapped in a larger downtrend.
The official Shiba Inu (SHIB) token account on X, which has an audience of 3.8 million followers, has suddenly shifted away from its usual focus. Instead of covering the SHIB token and the development of its own ecosystem, the project's media infrastructure has begun actively promoting third-party meme tokens with extremely low market capitalizations.
Shiba Inu is back in demand as the overall crypto market begins to see momentum build again as bulls appear to be taking over the market.
Large Shiba Inu coin holders have staged a systematic exodus from exchanges, moving tokens into long-term storage. According to analytics platform CryptoQuant, SHIB's net flow on trading platforms has remained negative for a record eight consecutive days since July 3.
The Shiba Inu community burns tokens like there's no tomorrow, but the price keeps tanking. The memecoin market, meanwhile, is melting like snow in the sun.
In a recent X conversation, Mazrael, a Shiba Inu community veteran, hinted at major updates ahead for SHIB projects.
Here's what the supply-demand data suggests.
A strange statistical glitch has been recorded with the Shiba Inu (SHIB) coin. In just one day, the number of on-chain transactions collapsed by 95% — from a peak of 78,558 transfers to a modest 3,922, according to CryptoQuant.
SHIB Army's mutual deflation efforts heat up as One Good Samaritan incinerates nearly $500 worth of SHIB in one go.
Shiba Inu users receive a security reminder as legacy domains lose official status, with Shib.io named as the main portal.
A crucial Shiba Inu ecosystem update has been issued to the SHIB community as Mazrael, a Shiba Inu community veteran, issued a fresh reminder regarding legacy domains that are no longer maintained by the project.