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▲ Shiba Inu (SHIB)/AI generated image
Shiba Inu (SHIB) demonstrated its unique strength in the memecoin market by recording its largest ever monthly return rate in April.
U.Today reported on May 1 (local time) that Shiba Inu showed a sharp upward trend throughout April, driven by strong network growth and supply control. The cumulative transaction volume of Shibarium, its Layer 2 network, exceeded 1 billion. This is a result of achieving substantial ecosystem expansion beyond a mere trend. User inflow also showed record figures, with 24,000 new wallet addresses added between April 20 and 27.
On the supply side, a continuous token burning policy effectively alleviated downward price pressure. To date, approximately 410.8 trillion SHIB of Shiba Inu tokens have been burned, which is about 41% of the total initial supply. The burning mechanism, combined with liquidity provision, acts as a key factor in increasing Shiba Inu's scarcity.
Entry into the regulated Japanese market also acted as a positive catalyst. Shiba Inu was recently listed alongside Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) in the supported asset class for lending services by Japanese virtual asset exchange SBI VC Trade. This inclusion in mainstream financial services served as a crucial opportunity to boost institutional investor confidence. Subsequently, Shiba Inu's market influence is also expanding in conjunction with the expansion of XRP-related services.
On-chain data indicates an inflow of buying interest from whale entities. Shiba Inu is currently maintaining a stable trend above the 20-day exponential moving average, attempting to break through key resistance levels. On April 25, 10,718 new users joined in a single day, indicating peak ecosystem activity.
Technically, Shiba Inu is currently forming an ascending triangle pattern, accumulating momentum for further upward movement. Market sentiment is also improving, with net inflow figures turning positive. Increased transaction volume within the ecosystem and accelerated institutional adoption demonstrate that Shiba Inu is building its own independent financial ecosystem, moving beyond being a mere memecoin.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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