SHIB Price Soars as Stablecoin Launch Date ApproachesThe SHIB token has shown strong performance in the market with a rapid burn rate and price surge.
According to Sheburne, the burn rate has increased by 640% in 24 hours. Burning over 5.5 million SHIB tokens indicates active community participation. This has led to a 12% price surge in the last day, which is a record monthly price increase.
At the time of writing, SHIB is trading at $0.00001706, which is a significant bounce compared to many other cryptocurrencies.
SHIB analyst KNIGHT expects SHIB stock to reach new highs, noting that the token has held above levels from its last accumulation block.
