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Shiba Inu

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Shiba Inu (SHIB) is on the front lines today as one of the best-performing altcoins around. For a meme coin, SHIB is definitely not lagging behind after <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">raking in</a> as much as 9.01% with its price jumping to $0.0000109 overnight. The growth of Shiba Inu has been somewhat steady over the past week with the second-largest meme coin dropping off one more zero to the delight of its community. 
<img alt="Shiba Inu Chart" data-entity-type="file" data-entity-uuid="88cebb46-e751-4723-8b4f-3480524acca1" src="https://u.today/sites/default/files/inline-images/SHIB_1D_graph_coinmarketcap%20%288%29.jpeg">SHIB price chart. Source: <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
The Shiba Inu performance cannot be disconnected from the protocol's current burn rate, which has seen a remarkable uptick in the past 24 hours. <a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Per data</a> from Shibburn, a total of 111,799,146 SHIB tokens have been <a href="https://u.today/shiba-inu-shib-ignites-double-burn-rate-sparks-price-surge" rel="noopener noreferrer nofollow">lit up</a>, burned and sent to dead wallets, a figure that accounts for more than a 57% surge at the time of writing. 
For the week, the SHIB burn rate has been on a <a href="https://u.today/shiba-inu-shib-burn-address-value-hits-41-billion" rel="noopener noreferrer nofollow">steady climb</a> with the upside visible in its price action. Based on the current outlook, the upside in price might be steady for a while considering the organic leap in the Shiba Inu ecosystem's trading volume. 
The CoinMarketCap data revealed that the SHIB token's trading volume is up by 99% overnight with a total of $617,370,310 coins traded across the board. 
<h2 id="solidifying-uptrend-shibarium-sentiment">Solidifying uptrend: Shibarium sentiment</h2> 
As it stands, the coming week signifies a historic time for the broader Shiba Inu ecosystem as the countdown for the launch of Shibarium intensifies. 
The Shibarium protocol is branded as a highly functional Layer-2 protocol built on the Ethereum network. The mainnet launch is scheduled for next week at the Blockchain Futurist Conference, and when it goes live, experts have predicted it will mark a whole new era for the meme coin ecosystem. 
Shiba Inu can be said to be pricing in the <a href="https://u.today/shibarium-sentiment-fuels-27-bad-rally-heres-next-target" rel="noopener noreferrer nofollow">positive sentiments</a> surrounding the Shibarium launch, and we can expect more of this upsurge in the coming days.

Shiba Inu (SHIB) Lights Up: Sparks New Price Rally

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