Shiba Inu’s burn rate has surged dramatically, increasing by a staggering 1,726% in the past 24 hours. This monumental increase is attributed to community efforts focused on reducing circulating supply. As tokens are sent to ‘dead’ wallets, the total supply continues to decrease, offering potential for future price gains. The surge also led to a notable jump in weekly burn activity, with over 116 million SHIB removed from circulation in just seven days. While this positive development might fuel optimism, Shiba Inu’s current price remains under pressure, experiencing a 1.34% dip within the last 24 hours to $0.000007917. Despite recent challenges and an historical pattern of December declines, some experts believe that these increased burns could serve as the catalyst for a price shift.