According to U.Today, Shiba Inu (SHIB) has experienced a notable surge in several of its metrics, including price and burn rate, leading to an unexpected revival. After hitting a low of $0.00001667 in the past 24 hours, Shiba Inu has rebounded to $0.00001728, marking a 2.35% increase within the same period.

The burn rate of Shiba Inu has seen a significant jump, increasing by 229% in the past 24 hours, with a total of 3,773,286 SHIB sent to dead wallets. Although this quantity might seem small, it highlights the resilience of the meme coin. The deflationary process, driven by community members, reflects a positive attitude towards the ecosystem. With this recent increase, the total number of Shiba Inu burned since its inception now stands at 410,727,773,365,286 SHIB, leaving 583,403,333,110,986 SHIB in circulation. The protocol aims to reduce this number over time to raise the asset's inherent value, targeting a long-term goal of reaching 1 cent.

The Shiba Inu protocol's ambitions extend beyond mere price action. While some holders are focused on price movements, the core developers, including Shytoshi Kusama, aim to establish a futuristic Web3 hub with widely adopted products. The team has announced several upcoming projects and services that may soon be available on-chain. In addition to Shibacal NFTs and Shiba Eternity, the Shiba Inu ecosystem is rapidly expanding, with more products expected to be unveiled in the near future.