SHIB recall surges by 4500%, will Shiba Inu Coin soar?
Shiba Inu Coin’s factory rate surges, token supply greatly affected!
More than 50 million SHIBs were recalled, and the market ushered in another wave of bullishness.
SHIB prices rose by nearly 5%, and investors are looking forward to further increases.
On Thursday, Shiba Inu Coin became popular again in the market, and SHIB’s panic rate soared by 4500%! The latest data shows that more than 50 million SHIBs have been withdrawn from circulation, which shows that Shiba Inu Coin has great potential. At the same time, the price of meme coins also rose, and everyone is more optimistic about the future of cryptocurrency.
SHIB recall volume soared 4500%, more than 50 million SHIBs were recalled
According to Shibburn data on November 28, the SHIB recall rate rose 4483% in one day, and a total of 53.61 million tokens were recalled. After the recall, the market supply of Shiba Inu Coin is still 589.26 trillion.
SHIB destruction data
From this point of view, the token destruction mechanism of meme coins has reduced the supply, which is a good thing according to the law of supply. Moreover, there are other good news that also help strengthen the market position of cryptocurrencies.
According to CoinGape, Binance recently expanded the trading range of Shiba Inu Coin. The leading cryptocurrency exchange began to offer spot grids and spot DCA for SHIB/USDT, giving the green light for funds to flow into the token ecosystem.
In general, the surge in destruction rates and the strengthening of trading products have made cryptocurrencies and their price trends more optimistic.
Shiba Inu Coin rose by 5%
At the time of writing this article, the price of Shiba Inu Coin has risen by 5% to $0.00002557. In the past 24 hours, the lowest price was $0.00002435 and the highest price was $0.00002644. As mentioned earlier, the destruction rate of SHIB and the strengthening of asset market supply have made this token look even higher.
At the same time, CoinGape analyzed the recent price of SHIB and felt that the meme coin is also expected to rise sharply. This analysis was made against the background of multiple bullish signals on the token chart.
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