The 7911-fold increase in the destruction of Shiba Inu coins can help SHIB reach the $0.00008 mark?
Dear friends in the currency circle, I have good news for you! In the past 24 hours, the destruction rate of SHIB has skyrocketed, directly increasing by 7911 times! Currently, SHIB, as the second largest meme currency in terms of market value, has attracted a lot of attention.
Do you know what this means?
That's right, the price of SHIB may soar all the way and return to its historical peak of $0.00008! It's exciting to think about it.
Let's take a look at the specific data:
In the past day, a total of 281.9 million SHIB tokens were destroyed. Among them, the vast majority - 277.5 million - were sent to an abandoned wallet. In addition, 7.2 million SHIB disappeared in a transaction. This wave of operations directly caused the destruction of SHIB to reach 312.3 million in a week, and the weekly destruction rate also soared by 1731%.
Why is it so important to destroy tokens?
Because it can increase the value of assets! Just like what we usually say, "scarcity makes things valuable", if there are fewer tokens, the price will naturally go up. Therefore, the price of SHIB is likely to rise with the increase in the amount of destruction.
However, everyone should also pay attention to the fact that the sentiment of the cryptocurrency market can affect the destruction of tokens. Especially the price of Bitcoin, whenever it rises, the destruction rate of Shiba Inu Coin also increases significantly.
Speaking of this, we have to mention the Shibarium network. Although it sounds very high-end, it has been a bit sluggish recently. According to Shibariumscan data, the traffic of this second-layer network is pitifully small, with a daily transaction volume of only about 10,000, which is a world of difference compared to the millions of transactions at the end of last year and the beginning of this year.
This situation of Shibarium has made the Shiba Inu Coin community very worried. After all, this network has been destroying tokens before. If its usage rate can rise again, the daily destruction rate of Shiba Inu Coin may also rise.
Finally, let's take a look at the price of SHIB. According to CoinMarketCap, SHIB is currently trading at $0.000018, up about 2% in 24 hours. Although the increase is not large, it is a good sign.
