Shiba Inu up 11% in July as burn rate jumps 3,607%

Shiba Inu rose 11 percent in July, heading for its first positive monthly close since April, as burns and holder counts climbed.

The burn rate jumped 3,607 percent in the past 24 hours, with 58.67 million SHIB sent to dead wallets, according to Shibburn, the token's burn tracker.

July saw 3.25 billion SHIB burned over 30 days, while on-chain holder growth added more than 78,000 addresses to bring the cumulative total to 1,678,280, per Shibburn data. Shibarium, the token's layer-2 network, saw daily transactions climb 78 percent in a week to roughly 1,180, recovering from July's lows.

The token trades at $0.00000465, up 0.73 percent in 24 hours and 12.16 percent weekly, with a $2.71 billion market cap. Support sits at $0.00000446, with resistance at $0.00000506 and $0.00000553; a break above the latter would open the weekly 0.382 retracement near $0.00000636, a 38 percent gain.

Burns and holders climb as SHIB turns six

The rally follows a 40 percent surge last weekend that pushed SHIB to a high of $0.0000058 on July 28 before sellers rejected the move, dropping the token to a low of $0.00000484. It has since traded sideways in a narrow range between $0.00000454 and $0.00000484 since July 18.

Social dominance reached 0.084 percent, its highest since April 2, as crowd attention rose, while whale activity hit levels last seen since March's close, according to on-chain data. The weekly Relative Strength Index broke above a descending trendline in March 2026 and has now printed a second higher high this year near 45, with a push above 50 moving momentum into neutral territory.

Shiba Inu turns six years old at the turn of the month, having launched in August 2020 by an anonymous founder who goes by the pseudonym "Ryoshi." In Japan, Rakuten added a physical SHIB collectible to its Real Coin series in mid-July, lifting brand visibility.

Shibarium upgrade, ETF filings shape August

The most concrete event on the calendar is the Shibarium privacy upgrade built with cryptography firm Zama, based on fully homomorphic encryption. The rollout targeted the second quarter of 2026 and has slipped, making August a live window for delivery news. The team has also indicated progress on the paused Shiba Eternity game and the SHIB Metaverse relaunch, while a LEASH v2 upgrade with a fixed supply and DAO governance remains on the 2026 roadmap.

ETF speculation adds a slower storyline. Grayscale lists SHIB among assets eligible for spot products, and T. Rowe Price included the token in its active crypto ETF filing. On the macro side, the Jackson Hole symposium in late August is the main risk event for risk assets.

Losing $0.00000446 would expose $0.00000410, about 11 percent below the current price, and a weekly close under that floor would push SHIB into new multi-year lows. A confirmed date for the Shibarium privacy upgrade could accelerate any breakout, with August set to reveal whether the momentum shift extends July's rally or joins the list of failed bounces at resistance.

This article is for informational purposes only and does not constitute investment advice.