Shiba Inu (SHIB), a dog-themed cryptocurrency, has experienced a significant increase in its burn rate, with over 2.26 million SHIB tokens being removed from circulation. The daily burn rate has soared by 226%, showcasing the community's efforts to reduce the circulating supply of SHIB. Additionally, Shiba Inu recently partnered with the UAE's Ministry of Energy and Infrastructure to use blockchain technology in various public services. As a result, SHIB has risen to become the 16th largest cryptocurrency with a market valuation of $9.25 billion. Currently, the price of SHIB is up 0.61% in the last 24 hours, trading at $0.0000157. Bulls are aiming to break above critical daily moving averages to push SHIB out of its range trading pattern.



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