According to U.Today, the Shibburn meme coin wallet tracker has reported a significant decline in the Shiba Inu (SHIB) burn rate, which has dropped by 74.61%. Only 1,144,911 SHIB were transferred to unspendable blockchain wallets. These burns are driven by the SHIB community, including retail investors and entrepreneurs, who voluntarily lock in their SHIB. The daily burn rates can vary significantly, sometimes reaching tens of millions of SHIB. Recently, there have been only two transactions, moving 944,911 and 200,000 SHIB to dead-end addresses. To date, a total of 410,727,769,591,999 SHIB have been burned, with the majority destroyed in a single transfer by Ethereum co-founder Vitalik Buterin in 2021. Buterin received half of the one-quadrillion SHIB supply from Shiba Inu's founder, Ryoshi, but chose to burn the coins as he did not believe in SHIB’s potential and did not want to impact its price. Currently, 583,385,250,186,054 SHIB coins remain in circulation in the cryptocurrency market. Over the past 24 hours, SHIB has experienced a notable price increase of 5.42%, rising from $0.00001596 to $0.00001682. This surge comes after an 8% decline on Thursday. The recent price spike was influenced by Bitcoin's 5.26% rise, which saw it recover to the $67,380 zone after falling below $64,000 the previous day. Additionally, the SHIB community received positive news on Thursday when the official SHIB marketing lead announced a major Web3 upgrade for the Shiba Eternity game. The upgrade will allow players to participate in tournaments, generating excitement among SHIB supporters.