Shiba Inu (SHIB) Stagnant in Early July: Could It Recover Thanks to Solana?
As of early July, Shiba Inu (SHIB) is trading around $0.0000114, with a sideways price trend and declining trading volume. Large investors (whales) are continuously offloading their holdings, increasing selling pressure, while the token burn rate remains low, insufficient to create a price boost.
However, a bright spot comes from Solana (SOL) – a coin performing well and just surpassing the $150 threshold. If SOL continues to rise sharply, a wave of FOMO could spread to memecoins like SHIB.
Nevertheless, by the end of this weekend, SHIB is unlikely to break out without positive news from the Shibarium ecosystem or an unexpected surge from the overall market. Investors should closely monitor developments from Solana and Bitcoin to guide SHIB in the short term.