Shiba Inu (SHIB) has recorded a strong surge in trading activity on Binance, setting it apart from other altcoins in the current market reset. While global trading volume for SHIB dropped by 3.67 percent to $634.57 million, Binance data shows a sharp rise in interest from traders.
According to CoinMarketCap, the SHIB/USDT trading pair on Binance rose by 13.62 percent in the past 24 hours. The burning feature of the token keeps reducing the supply; which in turn reinforce the long-term bullish feelings that surround the coin.
In addition, open interest in SHIB futures has allegedly hit $210 million. Such an increase signals greater confidence from traders, and could have further price movement in once the current correction phase getsaby.
The current Binance data is a strong indicator of SHIB’s hold in the market in terms of its appeal to investors. Even with the fluctuations in price, an increased trading volume is evidence that the market players are still participating actively in the meme coin.
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Binance Trading Activity Signals Increased Retail and Whale Interest
The spike in volume also coincides with a broader effort by SHIB whales to accumulate more tokens. This inflow from large holders has contributed to the token’s growing popularity. Binance’s increased volume further confirms that SHIB remains a favored asset among both short-term and long-term traders.
Another key factor driving engagement is SHIB’s deflationary model. The burning feature of the token keeps reducing the supply; which in turn reinforce the long-term bullish feelings that surround the coin.
In addition, open interest in SHIB futures has allegedly hit $210 million. Such an increase signals greater confidence from traders, and could have further price movement in once the current correction phase getsaby.
The current Binance data is a strong indicator of SHIB’s hold in the market in terms of its appeal to investors. Even with the fluctuations in price, an increased trading volume is evidence that the market players are still participating actively in the meme coin.
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