Shiba Inu’s burn rate has experienced a significant surge, with data showing a dramatic increase of over 2,000% in the last 24 hours. This spike coincides with growing optimism for a potential price rally in the fourth quarter. The burning trend is part of a wider positive shift observed over the past week, with weekly burn rates seeing a notable increase. Shiba Inu’s price has been on the rise as the cryptocurrency market recovers from recent downturns, fueled by Bitcoin’s upward movement and cryptocurrencies gaining favor as a safe haven during economic uncertainty. 24-hour gains pushed Shiba Inu to its highest point of $0.00001289 before retracing. While SHIB has been consolidating in a narrow price range since March, investors remain hopeful for a breakout above the key resistance level of $0.000017. This could potentially propel the token towards targets like $0.000025 and even higher.