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Shiba Inu Rides Bitcoin’s $34K Wave, SHIB Burn Rate Rockets 600% Amid Market Frenzy

Shiba Inu SHIB/USD, a meme coin, has observed a 6% increase in the last 24 hours, as a wider market rally ensues due to optimism surrounding the potential approval of Bitcoin BTC/USD spot ETFs.

What Happened: According to data from Shibburn, a Shiba Inu burn tracker, over 121 million SHIB tokens were burned, resulting in a significant spike of 600% in the burn rate within the past 24 hours. This burning process helps reduce the supply of SHIB.

Furthermore, the trading volume of SHIB has seen a notable surge of 147.39%, reaching $245 million within a 24-hour period. 

Shiba Inu’s surge, along with the rise of other altcoins and meme coins, coincides with Bitcoin’s recent milestone…

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