🔥 Shiba Inu (SHIB) is on fire, folks! 🐕 It's up 16% and now sits as the 11th largest cryptocurrency, with a market cap of $16.9 billion.

- Meme coins are making a comeback, with the sector's market cap surpassing $70 billion.

- SHIB's trading volume in the past 24 hours hit nearly $1.9 billion, outperforming other meme coins.

- 70% of SHIB holders are currently in profit.

What's behind this surge? Two key factors:

- The project's burning mechanism, which has destroyed almost 10 million tokens, making SHIB scarcer and potentially more valuable.

- The advancement of its Layer2 scaling solution, Shibarium, which aims to lower transaction fees and improve speed.

What are your thoughts on this? Let's chat in the comments! 💬 #ShibaInu #CryptoNews