Shiba Inu burned 83,839,033 SHIB tokens over the past 24 hours, bringing the monthly total for July to over 3.2 billion tokens, a 1,395% increase from the previous period. SHIB closed July up 12.14%, its strongest monthly gain since November 2024’s 49% rally, driven by strong spot demand and contracting circulating supply. Over 4 trillion SHIB have moved off exchanges as whales continue buying the dip, mirroring behavior seen before the late-July breakout. The token has fallen more than 8% over the past two weeks following its 28.5% late-July rally, but the massive burns and whale accumulation suggest a strategy aimed at supporting a new move higher above the $0.000005 resistance level.
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