$SHIB Destruction volume surged by 49,464%, what exactly happened!
According to the latest data from the Shibburn tracking platform, an important metric for Shiba Inu - the destruction rate, saw an astonishing increase of 49,646% on Saturday, November 23, with a total of 175,311,356 SHIB tokens being transferred to unspendable blockchain addresses.
This change coincided with a rise in SHIB prices of over 10%, from $0.00002523 to $0.00002784.
According to CoinMarketCap, the trading price of SHIB is $0.00002557, up 1.53% in the past 24 hours.
However, despite the impressive surge in destruction activities over the weekend, the weekly destruction rate remains low.
In the past week, the Shiba Inu community successfully destroyed 195,050,744 SHIB, but the destruction rate reading itself decreased by 69.49%.
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