• July was a hot month for Shiba Inu, with 2.09 billion tokens burned across the community.
• Professional trader Crypto Rand pointed out a sensitive range which triggers a bullish reversal for $SHIB if maintained.
• 3.3 trillion SHIB tokens were withdrawn from centralized crypto exchanges over the month, signaling growing Shibarium Layer-2 expectations among holders.
Shiba Inu Burns Spike 27%, Fueling Bullish Reversal
July saw an impressive spike in Shiba Inu (SHIB) burns, with 2.09 billion canine tokens set ablaze by 412 transactions across the community. This marked a substantial increase compared to previous months and helped fuel expectations of a bullish reversal for SHIB’s price movement in the coming weeks and months ahead.
Shibburn Breaks Two Billion Barrier
The hottest day came on July 10th when Akai Token destroyed 803 million coins in 102 transactions, while another mysterious contributor sent 102,600,886 $SHIB tokens to the bottomless pit on July 21st – both helping to propel Shibburn past two billion barrier for July.
Bullish Reversal Triggered For SHIB
Looking at Shiba Inu’s price movement during the month, $SHIB has been headed for a horizontal range breakout since July 27th with professional trader Crypto Rand pointing out that this triggers a bullish reversal if maintained – which it has so far done successfully more than one week later. The current trade value is now at $0.00000832 according to CoinGecko .
Growing Shibarium Hype Fuels Expectations
With Shibarium mainnet due for launch this month and 3.3 trillion SHIB tokens being withdrawn from centralized crypto exchanges over the same period, expectations are high and sentiment is growing that these fundamental changes will trigger even greater gains amongst holders of this popular canine token in the future..
Bone ShibaSwap Gets Powerful Boost
Additionally, Shiba Inu’s alternative token Bone ShibaSwap (BONE) got an impressive 33% boost over seven days with 62.5% profits seen over its monthly performance – suggesting Bullish Reversal may not just be limited to SHIB itself but also spread throughout its ecosystem as well.