#市场围绕90K
Shiba Inu Coin (SHIB), also known as Shit Coin, has a nickname called "Er Gou" 🐶, which is very popular among cryptocurrency enthusiasts!
Many of my friends bought a large amount of SHIB at a low price in the early stage, and they all achieved financial freedom!
Latest news: SHIB destruction rate soared 6200%
Where can SHIB's price go in the future?
On Monday, the destruction rate of Shiba Inu Coin soared 6200%, and global investors' sentiment suddenly became optimistic. During the trading period, the price of SHIB soared, and the increase in the destruction rate made the market more optimistic about the future trend.
The destruction rate of Shiba Inu Coin soared 6200%, and the market was bullish.
According to the tracking website Shibburn, the latest data on November 18 showed that the destruction rate of Shiba Inu Coin increased by 6223% in the past day. Data shows that 290,321 tokens were destroyed that day. This massive destruction led to the aforementioned surge, and during the bull market, this coin has attracted special attention, especially as investors have set their sights on popular meme tokens.
Meanwhile, according to statistics at the time of the report, the total supply of the coin was about 589.26 trillion, and the aforementioned increase in destruction has exacerbated this situation. In addition, it is worth mentioning that the supply of this meme token has decreased by 135 million SHIBs in the past week. Overall, the supply has been greatly reduced, and the market has become more bullish on the price of the token, which reflects the law of supply and demand.
Can the price of SHIB rise to $1?
During the trading session, the price of SHIB rose by 4%, and the current trading price is $0.00002511. The minimum and maximum prices of this meme token in 24 hours were $0.00002403 and $0.00002563, respectively. It is worth noting that the upward trend is consistent with the surge in the destruction rate of Shiba Inu Coin mentioned above.
Meanwhile, Coinglass data shows that the open interest of SHIB futures has increased by 6% to $93 million. This data indicates that investors are increasingly interested in this asset, paving the way for a bullish future trend.
In addition, CoinGape Media's recent analysis of Shiba Inu Coin prices shows that the token is expected to rise further, although reaching the target price of $1 is still very optimistic.
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