Whales and Burns – How does SHIB try to recover its price?

SHIB has been volatile recently. After a short-term rise, SHIB encountered resistance around 0.00001889 and then fell back to the key support of 0.0000168. Hackers stole and sold 5.43 trillion SHIB worth $92 million, bringing panic to the market. However, the surge in whale activity and SHIB's destruction rate brought hope to holders.

Despite the recent continued decline in the meme market, whales have begun to show some interest again. Data shows that whale activity has surged, and currently, the proportion is 52%. This surge is related to the whales' desire to regain control of the market after this unexpected key transaction.

In addition, the consumption rate of SHIB has risen sharply by 454.08% in the past 24 hours alone. The destruction rate soared, and a total of 48 million Shiba Inu tokens were destroyed. A surge in token destruction would reduce the circulating supply and bring stability, even if it does not help prices recover.