Recently, a shocking wave has been set off in the cryptocurrency world - the destruction rate of Shiba Inu has soared in one day, with an astonishing increase of 68,316%! This dramatic increase was accurately recorded by Shibburn, a website dedicated to tracking SHIB destruction, and attracted widespread attention in the industry.
According to the latest data from Shibburn, the Shiba Inu community as a whole has been the main driving force behind this surge. Just yesterday, seven wallet addresses destroyed a total of 7.6 million SHIBs, a staggering number that highlights the determination and passion of community members.
Among them, three transactions are particularly eye-catching. A wallet address named '0x60' destroyed about 4.3 million SHIBs in a single transaction, becoming the largest single destruction on that day. The total daily destruction of this wallet exceeded 5 million, which is undoubtedly a firm belief and passionate investment in the value of SHIB.
Soon after, another wallet address named '0xc6' also destroyed 1.5 million SHIBs in just one hour. Although the number was slightly less, it also demonstrated its firm support and high trust in SHIB.
This series of data not only demonstrates the determination and enthusiasm of Shiba Inu community members, but also indicates the possibility of a surge in SHIB prices. As the amount of destruction continues to increase, the amount of SHIB circulating in the market will gradually decrease, which will further push up its value and price. Therefore, we have reason to believe that this long-awaited price surge may not be far away.
With the significant increase in the number of destroyed Shiba Inu tokens, approximately 410.7 trillion Shiba Inu have been removed from circulation, and the current circulating supply in the market is 589.2 trillion. Behind this number is not only the beating of numbers, but also the firm implementation of the long-term vision of the Shiba Inu community.
While the impact on the Shiba Inu market price may be limited in the short term, in the long term the scarcity created by the continued removal of tokens from circulation will surely drive prices up. This is a carefully planned long-term strategy designed to make each remaining Shiba Inu token more valuable by reducing supply.
However, despite the burning of tokens, the market price of SHIB has not soared in tandem, but has lagged behind. In the past 24 hours, the price of SHIB has fallen by 0.5% to $0.00002325. This downward trend is a continuation of the recent price decline. SHIB has fallen by nearly 6% in the past week.
In this market context, Lucie, the chief social media marketer of the SHIB team, discussed the possibility of an exchange-traded fund based on SHIB on Elon Musk's X platform earlier today. This is not only a bold prediction for the market, but also a firm support for the long-term vision of the Shiba Inu community. In Lucie's eyes, we seem to see the infinite possibilities of Shiba Inu in the future and the huge value it brings.
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