According to CryptoPotato, the price of Shiba Inu (SHIB) has increased significantly recently. One of the possible reasons is that its burning rate has increased significantly, significantly reducing the circulating supply. SHIB prices have increased by 6% in the past week and by 30% in the past month. Shiba Inu’s burning rate has surged by more than 160,000% in the past 24 hours, resulting in nearly 8.6 billion tokens being sent to addresses that no one can access. Data from Shibburn shows that more than 41% of the total supply of Shiba Inu has been destroyed. Another factor that could drive SHIB prices higher is the further development of Shibarium’s second-layer blockchain solution. Since its official launch in August this year, the daily transaction volume of the Shibarium network has reached millions in December, with the total transaction volume exceeding 160 million and the total number of blocks exceeding 2.2 million. Currently, about 40% of SHIB investors have made profits and 55% have lost money. In addition, Shiba Inu exchange net inflow data shows that in the past four days, outflows have been three times as much as inflows, which may mean that there is room for SHIB prices to rise in the short term.

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