SHIB destruction rate surges 1,344%: accompanied by significant price fluctuations
A striking development within the SHIB ecosystem is that the destruction rate of SHIB has surged by a staggering 1,344%.
This significant increase in token burning activity comes at a critical time, and for SHIB investors, it appears that big changes are on the horizon. Banqun;Free Wei;LLSS688677
According to Shibburn X, 135,451,536 SHIB tokens have been destroyed in the past 24 hours, with a total of 12 transactions. This is equivalent to $3,868.50 in monetary terms, and the destruction rate of SHIB has surged by a staggering 1,344.14%.
This surge in SHIB destruction comes at a time of increased speculation surrounding Shiba Inu’s price action.
With SHIB prices retreating in recent weeks, investors are watching the market closely for signs of a potential breakout or significant price movement.
This past weekend, the entire cryptocurrency market saw renewed bullish momentum, with Bitcoin and other major cryptocurrencies regaining ground and retaking key resistance levels. SHIB was no exception, rising for three days starting on April 6 before profit-taking began to set in.
At the time of writing, SHIB has fallen 1.75% in the past 24 hours to $0.000027. On the upside, the next resistance for Shiba Inu is located between $0.000031 and $0.000036, where 20.96 trillion SHIB were purchased by 137,600 addresses at an average price of $0.000033.
On the other hand, if the price of SHIB drops further, the next support level is between $0.000025 and $0.00027, where 33.39 trillion SHIB were purchased by 46,930 addresses at an average price of $0.000026.
Shiba Eternity team member Lucie provided some updates for the Shiba Eternity team. As previously reported, the SHIB CCG game Shiba Eternity has received a much-anticipated update, which has caused excitement throughout the community.
Lucie reported that the first version of the Shiba Eternity project is already running well and improving with new updates. She added that there is no plan to slow down as Shiba Eternity continues to roll out new features and refine the system.
Lucie also stated that the community can look forward to some exciting updates for kibbles and Shiboshi, as well as new cards and a breeding system for Shiboshi, while noting that things are moving quickly as Shiba Eternity is now closer than ever.
The future of Shiba Inu is not limited to being a popular meme coin. It is predicted that as SHIB gradually integrates into the larger payment system and emerges on mainstream cryptocurrency exchanges, its price will usher in a new round of surge.
As for the short-term trend, in the near future, the price of Shiba Inu is expected to double to $0.000042 by the end of the year. By 2024, its price may climb to a high of $0.000060, and the average price will stabilize at around $0.000056.
Currently, the price is quoted at around $0.000027, but SHIB is poised for potentially huge growth due to strategic token burns, growing demand, and its expanded utility beyond simply being a currency meme. As the SHIB ecosystem continues to grow, all eyes are on the promising future of this currency meme, and in the future, Shiba may surge 2,000%.
