$SHIB With the destruction of Shiba Inu, the promotion rate soared by 310%! Prices quickly rebounded and skyrocketed

Although SHIB prices fell 7%, reduced supply brings hope of a rebound. 410 trillion SHIB tokens have been destroyed!

As burns continue in the community, Shiba Inu burn rates have soared 310% in the past 24 hours! Although SHIB prices fell, they were still down more than 7%. However, dwindling supply gives hope for a rebound. More than 410 trillion SHIB tokens have been destroyed.

Shiba Inu’s burning rate skyrockets by 300%

The significant increase in SHIB’s burn rate effectively reduces its market supply, which may benefit its token economics in the long run. According to data from Shibburn, the burn rate has surged by 310.99% in the past 24 hours alone. During this period, a total of 9.74 million SHIB tokens were destroyed through multiple transactions conducted by the community.

In the longer term, if the bullish momentum continues, SHIB could rally towards $0.0001. However, if the SHIB cryptocurrency follows the current bearish trend, the next key support level for the pullback will be $0.00004. Meanwhile, according to Coinglass, open interest in SHIB futures

Approximately has plunged 9.99% to $106.59 million.

Previously, the Shiba Inu price broke above the key resistance level at $0.000025. Furthermore, despite the bearish market, Shiba Inu prices have remained above these levels. At press time, SHIB price plunged 7.41% to $0.00002572 on Friday.

In addition, some analysts believe that the market value of SHIB cryptocurrency is expected to exceed 80 billion. The market value is expected to reach 0.00018, #meme板块关注热点 #顶级山寨币 #5月市场关键事件 #SHIB20000U一个亿 #SHIB/𝗨𝗦𝗗𝗧