SHIB's destruction rate soared 14570% and is about to soar!
Today, SHIB's destruction rate exploded, soaring 14575%! This destruction rate has risen so sharply that many people have also paid attention to it. Some analysts pointed out that this meme coin may have a big explosion. In particular, there is a wallet address that is particularly eye-catching, which has contributed a large part to the recent surge in destruction rate.
According to Shibburn data, Shiba Inu coin's destruction rate has soared 14575.02% in the past 24 hours! A total of 279.65 million SHIB tokens have been removed from the circulating supply since yesterday. So far, 410.73 trillion of this popular coin have been destroyed from the initial supply. Despite the huge destruction, the current circulating supply remains at 583.53 trillion.
However, the surge in the destruction rate seems to have further boosted market confidence. After all, the removal of tokens will reduce the supply on the market, which in turn helps to push up asset prices. With the surge in the destruction rate of Shiba Inu coins today, the discussion about whether the price of SHIB can hit $1 in the future has intensified.
CoinGlass data shows that the open interest of Shiba Inu coins rose by about 7% today, which also shows that the market's confidence in SHIB is gradually increasing. As for whether SHIB can soar in the future, I personally think that the previous high is expected.
