Shiba Inu Network rebounds after the destruction of 11.35 million SHIB
2026-08-14 21:05:49
According to CoinMeta, after several weeks of extreme silence, activity on the Shiba Inu network has begun to intensify, showing a determination to recover. The latest data indicates that token destruction on Shiba Inu has surged by over 618% in the past 24 hours, with a total of 11.35 million SHIB tokens destroyed, which is the highest amount destroyed on the network since July 27th. Over the past month, a total of 33.5 billion SHIB tokens have been destroyed, currently valued at over $17,000. Although large-scale token destruction does not always guarantee an immediate price rebound, it promotes scarcity by significantly reducing the supply of assets, which may drive demand and lead to a significant price increase. Despite the strong network activity on Shiba Inu offering bullish prospects for the assets, its trading price remains relatively low, currently hovering at $0.0000044, with a return rate of -5.11% in August. Market participants are not very hopeful that Shiba Inu will achieve a positive return this month.
Source:U.Today
This content is for market information only and does not constitute investment advice.
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