The cryptocurrency Shiba Inu (SHIB) has experienced a significant increase in burn rate, with 30,067,245 SHIB tokens burned in the last 24 hours, representing a 951.63% surge in daily burn rate. In the past seven days, a total of 90,978,818 SHIB were burned, resulting in a 40% surge in the weekly burn rate. Despite the increase in burn rate, SHIB's price has decreased by 8% in the last 24 hours, likely influenced by other factors. Additionally, meme coins, including Shiba Inu and Dogecoin, have seen losses in the market, while some meme coins have performed well with significant gains. SHIB's price has consolidated within its daily moving averages since December 2024, and its next major move remains uncertain.



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