#Shiba Inu burns skyrocket 38,199,412%, here's #SHIB price reaction #SHIBCommunity #ShibArmy #Shibainu $SHIB

Dog-themed cryptocurrency Shiba Inu (SHIB) has seen a surge in its burn rate, reaching 38,199,412%. According to the Shibburn X account, 39,345,498 SHIB were burned in the last 24 hours, representing a 38,199,412% surge in burn rate.

The price of Shiba Inu increased in the last 24 hours, reaching an intraday high of $0.00001468 in Sunday's trading session. However, the rise was short-lived, as the SHIB price retreated as the cryptocurrency market experienced some profit-taking. At the time of writing, SHIB was down 0.34% in the last 24 hours to $0.00001395 and down 1.10% weekly.

Shiba Inu's recent price behavior suggests that the relationship between token burns and the price might not always be straightforward. The price increase coinciding with the surge in the burn rate surge was followed by a pullback, indicating that market participants may be taking a cautious approach, waiting for more sustained momentum before making major moves.