Despite SHIB's Rebound, Spot Demand Remains Weak... Soaring to 13-Dollar Level

Following a sharp increase in SHIB's daily burn on August 8th, the amount burned dropped to just $13 within a day, marking a significant decline compared to the previous day's large burn. However, weekly burn volume remains elevated, with 154.83 million SHIB burned in the last seven days and a 312% weekly increase in burn rate. Spot demand remains muted despite the price rebounding 2.14% to $0.00000438, while derivative markets show mixed signals with falling trading volume but rising open interest.