The burning rate of the memes #Shiba Inu (SHIB) coin increased by 15.18% last week due to higher SHIB prices and increased demand. Despite a sharp drop in the #SHIB burn rate over the past 24 hours by 92.89%, the community expects continued burn in the coming weeks due to new projects and partnerships. The effect of this rise in the burn rate seems to be positive for Shiba Inu.

On the flip side, the price of SHIB rose only 10% amid the rally of other memes currencies, signaling various developments in the cryptocurrency market. Currently, SHIB is trading at $0.000781 with a slight drop over the past 24 hours and a 40% drop in trading volume. The community continues to follow these developments with enthusiasm. $SHIB