SHIB destruction rate soared 97%, is it a good time to buy? Is a rebound just around the corner?
As of December 25, Shibburn's latest data said that the destruction rate of Shiba Inu tokens has increased by nearly 97%, which means that there are fewer tokens circulating in the market.
It is said that 6.26 million SHIBs were sent to an address that can no longer be used, but these tokens may return to circulation in the future. In general, the destruction rate has increased, and everyone is a little optimistic about the future price fluctuations of this asset, after all, the supply and demand relationship is there.
The SHIB token destruction mechanism is intended to reduce the number of such meme coins in the market. Because of this, and the good news of other ecosystems, investors are quite confident about the future of cryptocurrency. The "SHIB: Metaverse" platform launched on Christmas last year has attracted special attention from the Shiba Inu community, and the popularity of the token has also increased.
This platform was just unveiled on Christmas this year, and the visual effects are superb, attracting market participants. The new platform also uses Chainlink CCIP, which is a big step in the development of SHIB multi-chain.
Trading expert Javon Marks is also optimistic about SHIB, saying that the technical pattern shows that it may rise to $0.000081, which is more than 234%.
In fact, SHIB has formed a bullish reversal pattern, and the lows are rising higher and higher after consolidation, which shows that buyers are confident and resilient.
Although the previous transactions have been losing money and are also affected by the overall crypto market, this bullishness has made everyone feel a little relieved.
For the next layout direction, I will lead everyone to aim at the profit opportunities of cottages, especially those projects with great potential. There is no problem with the expected space of more than 10 times. If you want to make a lot of money in the bull market, like + leave a message, and take you to layout the entire bull market!
