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▲ Shiba Inu (SHIB)/AI generated image
Shiba Inu (SHIB) recorded its largest-ever monthly return in April, demonstrating its unrivaled strength in the memecoin market.
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, a Layer 2 network, surpassed 1 billion. This is a result of achieving substantial ecosystem expansion beyond a simple trend. User inflow also showed record figures, with 24,000 new wallet addresses added between April 20 and 27.
On the supply side, the continuous token burn policy effectively mitigated 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, coupled with liquidity provision, acts as a key factor in increasing Shiba Inu's scarcity.
Entry into the regulatory framework in the Japanese market also acted as a positive factor. Shiba Inu was recently listed alongside Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) in the lending service supported assets of SBI VC Trade, a Japanese virtual asset exchange. Its inclusion in institutional financial services became a decisive catalyst for increasing institutional investor confidence. Subsequently, Shiba Inu's market influence is expanding along with the expansion of XRP-related services.
On-chain data shows an inflow of buying pressure from whale entities. Shiba Inu is currently maintaining a stable trend above the 20-day exponential moving average and attempting to break through major 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 indicators are also improving, with net inflow figures turning positive. Increased trading volume within the ecosystem and accelerated institutional adoption demonstrate that Shiba Inu is building its own financial ecosystem beyond being just a 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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