**Reasons for the 25% increase in Shiba Inu price*
Shiba Inu (SHIB) jumped by 25.5% in the last 24 hours, reaching its highest level since June. This occurred against the backdrop of a general rise in the cryptocurrency market, triggered by the results of the U.S. presidential elections. Inspired by the growth, Dogecoin (DOGE) also saw an impressive increase of 20%, hitting a three-year record. These two cryptocurrencies have become leaders among meme coins, continuing to attract investors focused on quick profits and high risk.
Additionally, there has been a 60% increase in the SHIB burn rate over the last 24 hours, contributing to a reduction in the total supply of tokens. Furthermore, the Shiba Inu team is actively working on developing the ecosystem, launching several new initiatives, including Shibarium. However, investors should be aware of the risks associated with trading such highly volatile assets.