Shiba Inu Coin Soars! 360 Million SHIBs Destroyed in One Week, SHIB Price Soars 12%
Amid the bullish trend of the broader market today, Shiba Inu Coin (SHIB) has attracted a lot of attention from investors. 360 million SHIBs were destroyed in the past week, pushing its price up by 12%.
The Shiba Inu (SHIB) coin showed great optimism in the market today, rising by more than 10% due to a large number of SHIB destructions. Nearly 360 million SHIBs were destroyed in the past seven days, a move that has had a positive impact on the market dynamics of the meme coin.
A total of 360.35 million Shiba Inu coins were destroyed in the past week, causing a sharp spike in the weekly destruction rate by 418%. The bullish market sentiment has led to an increase in SHIB prices, a surge in destruction rates, and a significant impact on the supply of Shiba Inu.
As of the time of writing, the SHIB price has risen by 15.30% in the past day to $0.00001539. Its 24-hour minimum and maximum prices were $0.00001296 and $0.00001546, respectively. SHIB futures open interest surged 8.45% to $34.53 million, further indicating increased investor interest in the asset. However, derivatives trading volume fell 28.62% to $213.2 million.
