Shiba Inu (SHIB) Price Revival Resumes As Burn Rate Shots Up 26,000%

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Shiba Inu's burn rate has increased by 26,446.84%, which is a positive performance metric for the meme coin.

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The burn rate is an indication that there are a lot of transactions occurring within the Shiba Inu ecosystem.

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Shiba Inu has become a deflationary token where a portion of the asset is burnt with each transaction.

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The anticipation of the beta launch of the Shibarium Layer 2 protocol has contributed to positive fundamentals in the Shiba Inu world.

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Shibarium has received support from thousands of developers and is expected to showcase the versatility of the SHIB token.

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Despite trading down for most of the past week, the growing transaction rates have led to a mild turnaround in the token's price.

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The SHIB token is currently up by 2.31% over the past 24 hours.

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While it is not proven that the burn rate directly impacts the price growth of SHIB, it is a metric that can give buyers confidence in acquiring the token.

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Shiba Inu has grown from a joke to become one of the most important protocols that are advancing the scope of today's emerging Web3.0 ecosystem.

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