Shiba Inu surges by over 62% as burn rate increased by over 22,000% in just 24 hours
Shiba Inu (SHIB) meme coin has seen a huge spike in price and burn rate, resulting in a devoted group known as the Shiba Army. The jump is linked to over 22,432% increase in the burn rate over 24 hours, which sent 14 billion SHIB tokens to a “dead wallet,” essentially removing them from circulation. Furthermore, this drop in supply is seen as a trigger for long-term price rise, following the economic concept of scarcity driving demand. However, seasoned crypto veterans remain wary owing to the short period and volatility of the cryptocurrency industry. The quick price gain might indicate