The cryptocurrency Shiba Inu (SHIB) has experienced a significant increase in its burn rate, with 11,899,510 SHIB tokens being burned in the past 24 hours, representing a 1,009.27% surge. This surge in burn rate coincides with a positive move in SHIB's price, which has seen an increase in recent trading. The price of SHIB is currently at $0.0000137, up 1% in the last 24 hours and 6% weekly. Traders are now watching for a break above the critical resistance level at $0.000014, which could lead to further gains for SHIB. However, bears may attempt to push SHIB below the $0.000013 support level, potentially signaling a return of bearish sentiment.



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