#数字资产动态追踪 SHIB has increased by 30% this month. At first glance, it looks like a typical meme coin surge, but the details behind the rise are a bit different.

Let's look at the candlestick chart—price quickly crossed the short-term moving average, indicating that buying pressure is indeed accumulating. However, the RSI is already overbought, which suggests that while the increase is rapid, the majority of the momentum is driven by short-term traders following the trend, and the fundamentals are still somewhat weak.

What's even more interesting is the on-chain activity. Medium-sized wallets holding between 1,000 and 100,000 SHIB are continuously increasing their holdings, becoming the real driving force behind this round of market movement. In contrast, large whales are mostly on the sidelines, and retail investors show little enthusiasm.

The Shibarium ecosystem is also gaining heat—transaction volume is rising, and the BONE token's transaction fees have been repeatedly increasing, indicating that there are real users in the ecosystem, not just hype.

The core question is: the mid-tier funds are supporting this upward momentum, but how far can it go? It all depends on whether the ecosystem's enthusiasm can be sustained. Short-term gains look good, but in the long run, it depends on whether Shibarium can truly support ecosystem applications.