Shiba

Burn

Memecoin

Shiba Inu

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<p dir="ltr">The Shiba Inu (SHIB) burn rate has skyrocketed by a massive 33,818%, the largest surge recorded in the past few months.&nbsp;<a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Per</a> data from Shibburn, this burn rate has led to a total of 1,884,288,401 SHIB torched, the most significant 1-day burning recorded this quarter.</p>
<h2 id="shiba-inu-is-back">Shiba Inu is Back</h2>
<p dir="ltr">Shiba Inu remains one of the most watched tokens in the market and arguably the&nbsp;<a href="https://u.today/shiba-inu-shib-outstrips-every-top-100-coin-is-another-zero-in-danger" rel="noopener noreferrer nofollow">best-performing token</a> in the top 100 today. As of this writing, the price has skyrocketed by more than 14% to $0.00001937, slightly lower than the intra-day high of $0.00001967.</p>
<p dir="ltr">According to the current market outlook, the SHIB 24-hour trading volume has skyrocketed by over 124% to $1,350,670,820 as trader sentiment enters a new level. With the latest burn rate surge, 410,730,725,592,430 SHIB has been sent to dead wallets since the token’s inception.</p> <img data-entity-type="file" data-entity-uuid="5b482faa-3339-4808-a024-7cffbd8f69e9" src="https://u.today/sites/default/files/inline-images/SHIB%20INU%20.jpg"><a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">SHIB Burn Rate. Source: Shibburn</a>
<p dir="ltr">With this, the Shiba Inu project still has a total circulating supply of 583,500,849,670,245 SHIB. The memecoin project is implementing different avenues to reduce this supply, with the latest being the launch of&nbsp;<a href="https://u.today/shiba-inus-shibarium-now-has-burn-portal" rel="noopener noreferrer nofollow">ShibTorch</a>, a burn portal on Shibarium.</p>
<p dir="ltr">This 1.8 billion SHIB incinerated is the best performance that ShibTorch has recorded since its launch in August.</p>
<h2 id="shib-amid-memecoin-competition">SHIB Amid Memecoin Competition</h2>
<p dir="ltr">Shiba Inu is looking to reinstate its influence in pursuing Dogecoin (DOGE), the dominant memecoin in the industry. Per their 24-hour price changes, SHIB’s surge has surpassed its rivals, as its 15% surge dwarfs DOGE’s 8% and PEPE’s 8.8% rally.</p>
<p dir="ltr">However, PEPE is notably outshining, having rallied by more than 17% in 24 hours. At this rate, PEPE has finally cleared one zero, as teased in an earlier U.Today&nbsp;<a href="https://u.today/pepe-might-clear-one-zero-when-price-hits-8-week-high" rel="noopener noreferrer nofollow">report</a>.&nbsp;</p>
<p dir="ltr">Shiba Inu remains a reference token in the memecoin ecosystem, and its metrics show sentiment is growing overall.</p>

Shiba Inu (SHIB) Burn Rate Shoots up 33,818%, What's Going On?

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