Shiba Inu (SHIB), hailed as the purported Dogecoin challenger in the meme coin arena, has sent ripples of excitement through the cryptocurrency market today, with its burn rate skyrocketing by approximately 2200%. This surge in burn rate, occurring amidst a notable market uptrend reflected by the token, has set ablaze a bullish sentiment among crypto enthusiasts, sparking speculation about a potential upward trajectory in its price. As of the latest update, SHIB has been trading positively, although it experienced brief dips into the red territory within the last day. Nevertheless, buoyed by a significant increase in its burn rate, coupled
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