The Shiba Inu (SHIB) community has increased its efforts to decrease the token's supply by burning a significant amount of SHIB tokens in the last 24 hours. This has resulted in a 5,440.85% surge in the daily burn rate. The spike in burning demonstrates the community's commitment to making SHIB more scarce. Two large burn transactions contributed to this surge, with over 32.8 million SHIB burned. SHIB has also benefited from the broader cryptocurrency market recovery after a drop on Monday. At the time of writing, SHIB was up 3.86% in the last 24 hours to $0.0000132. However, the market remains cautious, and traders will closely monitor technical indicators and macroeconomic trends to determine if the rebound will continue.



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