Shiba Inu (SHIB), the second-largest meme coin, has experienced significant gains of 36% over the past week. This surge comes after the price broke key resistance levels and reached a high of 0.0000277 on Friday. Crypto analytics platform Santiment highlighted the increase in trading volume, circulation, and whale transactions, but also warned of a potential price peak due to FOMO. Analysts have expressed optimism about SHIB's future performance, drawing parallels to its previous surges in October 2021 and projecting higher prices. Moreover, a significant burn event occurred, with over 1.8 billion SHIB tokens being removed from circulation. SHIB is currently trading at $0.00001962, reflecting a 1.96% surge in the past 24 hours.



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