Shiba Inu Destruction Rate Surges 64,000%, SHIB Price Hints at Rebound
Shiba Inu's destruction rate has increased by more than 64,000% in the past 24 hours, according to Shibburn data. In just one day, more than 657 million SHIB tokens were destroyed, bringing the total destroyed SHIB tokens to 410,725,564,272,084.
SHIB price rose by 6.83% on a daily scale, hinting at an upcoming rebound after a massive market correction over the weekend.
Heading for recovery
From April 11 to 13, SHIB experienced a three-day decline of 26.71%, falling below the $0.00002 support level. Despite a recovery earlier this month, SHIB was unable to maintain its gains and headed for a new low over the weekend.
Shiba Inu has recently shown impressive growth, approaching the market cap of its main competitor, Dogecoin. However, the recent downward trend in the market has also affected Shiba Inu. As of now, SHIB's on-chain signals are still mainly bearish.
SHIB Corps will not stop
In a recent tweet, Lucie emphasized that one of the main goals of the Shiba Inu team is to keep Shibarium at the forefront of the cryptocurrency market, regardless of external factors, such as the dynamics of partnerships. "We will not stop," Lucie emphasized in the tweet, highlighting the team's firm commitment. Expressed determination to the goals of the Shibarium team.
The test of the bull market is not only the ups and downs of the market, but also a test of our mentality. In the face of changes in the account, we must remain calm and analyze rationally. Don't rush to sell because of a temporary loss, and don't blindly chase high because of a temporary profit.
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