SHIB was changing hands at $0.0000092, up 4.11% in last seven days
according to shibburn Twitter account, over 4,699,029 SHIB tokens were destroyed in three large transactions. SHIB Burner gives the details of the three big transactions and the amount of each SHIB in separate tweets.
The biggest of these three transactions burned 2,727,768 SHIB in one fell swoop, and the other two transactions burned 971,261 SHIB and 1 million SHIB, respectively.
Interestingly, only three transactions were reported on the previous day, in which 7,934,474 SHIB tokens were burned. The breakdown of burns is as follows: 5,836,659 SHIB were burned in one transaction, while a total of 2,097,814 SHIB were burned in two separate transactions.
However, the burn rate was down 40% because the amount burned in the last 24 hours lagged behind higher burn figures reported in previous days.
In the last month of November, when the crypto market woke up from the shock of the tragic FTX collapse, only 666,903,322 SHIBs were burned with only 149 transactions.
SHIB price regains key level
SHIB began a recovery in November 22 after reaching lows of $0.0000817. The price steadily recovered until a barrier at $0.000096 was reached, at which point bulls retreated.
The fall below $0.000009 was quickly halted as SHIB recovered above this crucial level and has remained there ever since. This may suggest that demand is slowly rising at this key level as buyers re-enter the market.
At the time of publication, SHIB was changing hands at $0.0000092, up 4.11% in the last seven days. The immediate barrier at $0.0000096 remains an important level to keep an eye on if SHIB is to sustain its rebound.
On the other hand, if the price turns down from the current level, the bears might threaten to pull the SHIB price once again below the $0.000009 level, possibly to the $0.0000081 level.
