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On January 7th, according to foreign media reports, Argus released the latest Japanese refinery data: 1. As of the week ending January 3rd, the average operating rate of Japanese refineries was 89.2%, basically unchanged from the previous week. Crude oil processing volume remained at 2.8 million barrels per day, and operating capacity remained at 3.1 million barrels per day. 2. Japanese refiner Eneos stated that it will suspend planned maintenance on its 128,000 barrels per day crude oil distillation unit (CDU) at the Marifu refinery starting in mid-January. The unit will resume operation in early April. 3. Regarding prices, with gasoline subsidies ending at the end of 2025, as of January 5th, the average retail gasoline price in Japan was 155.70 yen per liter, lower than 158 yen per liter on December 22nd, marking the lowest level since June 2021. 4. Inventory data shows that as of the week ending January 3, crude oil inventories increased by 6.0% week-on-week to 65.12 million barrels; gasoline inventories decreased by 1.0% week-on-week to 10.67 million barrels; kerosene inventories increased by 8.4% week-on-week to 14.01 million barrels; and diesel inventories surged by 22.4% week-on-week to 10.35 million barrels.On January 7th, Guo Ningning, Deputy Secretary of the Fujian Provincial Party Committee and Secretary of the Fuzhou Municipal Party Committee, stated that during the 15th Five-Year Plan period, Fuzhou will formulate and implement an overall development plan for its development zones, creating a number of distinctive benchmark parks. The city will solidly promote the integrated development of port, shipping, and trade along the "Silk Road Maritime Transport," accelerate the construction of channels such as the "Silk Road Flight" and the "Digital Silk Road," and build a comprehensive transportation network integrating sea, land, air, and land. It will also develop high-level platforms such as the China-Indonesia "Two Countries, Two Parks" initiative, the 21st Century Maritime Cooperation Committee, and comprehensive bonded zones, strengthening international cooperation in industrial and supply chains. Adhering to the principle of cross-strait integration with Fuzhou taking the lead, the city will continuously optimize institutional arrangements for integrated development, promoting economic, social, emotional, and overall integration between Fuzhou and Taiwan. It will accelerate the construction of a pilot zone for a cross-strait common market and a cross-strait common industrial cluster, creating a happy home for Taiwanese compatriots, businesses, and youth.On July 7 local time, Saudi Arabia launched airstrikes against Yemen, resulting in 4 deaths.1. WTI crude oil futures trading volume was 879,846 lots, an increase of 6,072 lots from the previous trading day. Open interest was 1,966,625 lots, an increase of 5,296 lots from the previous trading day. 2. Brent crude oil futures trading volume was 163,578 lots, an increase of 13,367 lots from the previous trading day. Open interest was 216,246 lots, a decrease of 739 lots from the previous trading day. 3. Natural gas futures trading volume was 499,109 lots, a decrease of 329,793 lots from the previous trading day. Open interest was 1,592,991 lots, an increase of 15,786 lots from the previous trading day.On January 7th, it was announced that the Shenyang Housing Provident Fund Management Committee has approved five optimizations to housing provident fund loan policies, effective January 2026. These optimizations include: extending the minimum down payment ratio policy period, extending the 15% minimum down payment ratio for housing provident fund loans implemented in November 2024 to December 31, 2026; extending the policy period for determining the number of housing units in housing provident fund loans, extending the policy period for those who have used two or more housing provident fund loans and can obtain a new loan after repayment, implemented in July 2025, to December 31, 2026; and relaxing restrictions on "commercial-to-provident fund" loan conversions for flexible employment and other groups. For those applying for "commercial-to-public" loans, the repayment period of the original commercial loan will no longer be restricted, except for flexible employment contributors, employees contributing in other locations, and active military personnel. The loan ratio limit for "commercial-to-public" loans will be increased from 60% to 80% of the house price. The housing loan support policy for new urban residents and young people will be relaxed, and the scope of application of the housing provident fund loan limit for new urban residents and young people will be increased to 1.3 times the original limit, expanding from newly built commercial housing to both newly built commercial housing and second-hand owner-occupied housing.

This week, Shiba Inu (SHIB) surges beyond $0.0000115, increasing by over 40 percent

Daniel Rogers

Jun 27, 2022 15:09

截屏2022-06-27 下午2.42.29.png 

 

This week's rise in larger cryptocurrency markets in the aftermath of recent steep drops and as mounting US recession bets allay concerns about US Federal Reserve hawkishness has enabled a jump in Shiba Inu. According to CoinMarketCap statistics, the second most popular dog-inspired memecoin and self-proclaimed "Dogecoin killer" is up more than 13 percent in the previous 24 hours, making it the best performing cryptocurrency in the top 20 and deserving of the title of coin of the day.

 

SHIB/USD is now trading just north of $0.0000115, up over 41 percent on the week and up more than 60 percent from previous monthly lows just above $0.000007 per token, giving it a market valuation just north of $6.3 billion, the thirteenth-largest of all cryptocurrencies. This week, Shiba Inu has risen above both its 21-Day Moving Average (at $0.0000095) and its 50-Day Moving Average (at $0.0000112).

SHIB Dip Buying

This week represented a definite turning point in Shiba Inu's near-term technical momentum, which may imply that the retail investors that drive SHIB price action are searching for a bottom after the token dropped back into its mid-2020 levels earlier this month. According to statistics supplied by the Twitter account @letsburnshiba, the number of SHIB holders has increased from less than 1.2 million a week ago to over 2 million as of Friday. This finding is supported by this increase. According to Whalestats, the SHIB token holdings of the top 100 biggest Ethereum wallets (SHIB is an ERC-20 token) have increased to approximately $600 million.

 

The SHIB/USD bulls face impediments to further advance. The weekly peak, slightly around $0.0000012, lurks just above present prices. Then there are late-May peaks in the range of $0.0000125 to $0.000013. However, if the cryptocurrency can overcome these obstacles, there is little (in terms of technical resistance) preventing it from recovering all the way back to test the January lows just around $0.000017. That would represent an additional almost 50 percent increase from current levels.

Pre-Shibarium FOMO?

Despite receiving severe criticism for its lack of usefulness, Shiba Inu has a history of attracting huge speculative flows. Given SHIB's vast and devoted fans and massive social media presence, it may be hazardous to wager heavily against it.

 

Indeed, it does not take much to get the juices of Shiba Inu investors flowing. Some attributed this week's increase to a new proposal by the token's creators on Sunday to alter how the BONE token is utilized on the ShibaSwap platform. According to the proposal, the BONE token, the governance and utility token of the ShibaSwap platform, might be utilized in the future as transaction fees in the soon-to-be-released layer-2 Shibarium protocol.

 

Once deployed, SHIB tokens will transfer from the Ethereum blockchain to the Shibarium blockchain. According to developers, this will dramatically reduce gas expenses associated with SHIB transactions and offer a burn mechanism. Shibarium is anticipated to be released later in 2022, and if larger crypto market circumstances permit, Fear Of Missing Out before to its release could send SHIB soaring.