Shiba Inu Price Jumps 4% After Massive Burn Rate Surge of over 3400%

The Shiba Inu (SHIB) cryptocurrency experienced a significant price surge in the past 24 hours, with its market value soaring above $7.2 billion due to an extraordinary token burn rate jump of over 3400%. Over 537 million SHIB tokens were removed from circulation during this massive burn operation. Experts attribute this rise to expanding decentralized finance (DeFi) applications and increasing institutional investment in the cryptocurrency.