Shiba Inu Mania: 60% Price Increase As Burn Rate Exceeds 22,000%The self-proclaimed “Dogecoin Killer,” Shiba Inu (SHIB), has crypto buzzing again. The “Shiba Army” group is enthralled by this meme currency, permanently tied to the cute Shiba Inu dog breed, which has skyrocketed in price and burn rate.Under the present excitement is a vital question: can Shiba Inu go from a playful dog to a recognized participant in the ever-changing bitcoin game?Shibburn, a SHIB transaction monitoring software, reported a 22,432% 24-hour burn rate rise. A massive 14 billion SHIB tokens are transferred to a "dead wallet," eliminating them from circulation.This supply shortage is credited with generating long-term price appreciation, mirroring the economic notion of scarcity driving demand.Crypto experts remain apprehensive. The cryptocurrency market is notoriously volatile, and the sudden growth is based on one-week, one-day data.This quick price gain may indicate a bubble about to burst, causing a dramatic correction. The term “meme coin” is also stigmatized. Meme coins, typically humorous parodies, are more speculative and volatile than utility-based cryptocurrencies.The Shiba Inu community, known as the “Shiba Army,” is enthusiastic despite doubts. They've helped the burning initiative swell.Recently, Kusama, the chief developer of Leash (another Shiba Inu token), hinted at a token burn, which boosted community morale. This devoted audience may influence market sentiment and raise the price.The future of Shiba Inu is unknown. Analysts expect a short-term rise to $0.0001. Long-term sustainability depends on many key variables.The success of Shibarium, the layer-2 blockchain created for SHIB, will be crucial. Shiba Inu must also build real-world use cases beyond speculation to lose its meme coin moniker and become a legitimate cryptocurrency competitor.#SHIB #Shibarium #TrendingTopic $SHIB

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