Shiba Inu, a prominent meme coin, has garnered considerable market interest as Bitcoin sustains its upward trajectory beyond $97,500. Despite facing a 2.19% drop in the last 24 hours, Shiba Inu is trading at $0.00002408, marking an 8% decrease for the week but showing a substantial 33% growth over the past month.
This notable performance can be partially attributed to the surge in Shiba Inu's burn rate, which has caught the attention of market participants and analysts alike. The burn rate, an indicator of decreased supply and potential price increase, is a critical focus for those invested in the coin.
Although Shiba Inu has seen some short-term setbacks in its pricing, the overall positive trajectory over the month provides optimism for investors anticipating further gains.
