Shiba Inu (SHIB) shows important signs of recovery as investor interest returns

According to U.Today, Shiba Inu (SHIB) is in important recovery mode, with multiple indicators turning green, indicating that investor interest in the ecosystem is returning. Data from CoinMarketCap shows that Shiba Inu is priced at $0.00002245, up 2.81% in the past 24 hours. Trading volume fell 5.35% to $853 million, and buying interest remains low, but niche optimism proves higher gains may be on the way. Data from Coinalyze shows that the open interest rate (OI) of the perpetual contract was $31.9 million in the past 24 hours, an increase of 2.61%. This open rate is critical to SHIB's health and future performance. It shows that, in addition to regular return optimism, more risk trade investors are beginning to hold out hope for higher growth in the currency's value. Additionally, Shiba Inu's other key network metrics cannot be ignored in its pursuit of a significant recovery. The burn rate and the Shibarium network play a key role in reigniting retail investor interest in the token. SHIB’s burn rate has remained high this week, currently up 25.92%, with over 24 million tokens having been removed from circulation. Shibarium, on the other hand, has seen a significant drop in the number of transactions from the daily millions it regularly recorded in the fourth quarter of 2023. However, it remains a key metric in determining network health and overall usage and demand for SHIBs over the long term.