Shiba Inu Price Soars: Bullish Signals Drive a 364% Burn Rate Increase

Shiba Inu’s (SHIB) price is experiencing a surge, driven by bullish trends in technical metrics, historical data, and on-chain activity. Over the past seven days, over 330 million SHIB tokens have been burned through the platform, boosting the burn rate by 364%. This significant increase coincides with a sharp spike in trading volume, reaching $138 million, highlighting growing investor interest in the meme coin. While the price remains below $0.00001245, several factors suggest an upward trajectory this month.