The Shiba Inu community has burned a large amount of SHIB coins, reducing the circulating supply. This has caused the price of SHIB to surge by approximately 9% in the past 24 hours. In the last day, the community burned 20,633,494 SHIB across five transactions, with the largest burn being 19,443,692 SHIB. This increase in burns may drive the price of SHIB closer to $0.01. However, over the past week, the community has burned a total of 93,273,100 SHIB, resulting in an 8.92% decline. SHIB has dropped in rank on CoinMarketCap and now sits at the 18th position with a market capitalization of $7.4 billion.



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