Shiba Inu Burn Rate Explodes 88,250% in 24 Hours, Rally Incoming?

Shiba Inu, the second-largest meme cryptocurrency by market capitalization, has exhibited several bullish indicators despite recent price ￰0￱ token's burning mechanism has experienced a dramatic increase, while on-chain metrics suggest growing investor ￰1￱ the time of writing, the meme coin trades at approximately $0.00001034, representing a 1% decline over the past 24 ￰2￱ market capitalization stands at $6.09 billion, positioning it as the 34th-largest cryptocurrency. However, multiple factors point toward a potential reversal in the near ￰3￱ Rate Increases by Over 88,000% The Shiba Inu community has destroyed nearly 30 million tokens in the last 24 hours, according to data from ￰4￱ represents an 88,250% surge compared to the previous day's burn ￰5￱ burning mechanism was introduced by the development team in 2022 to reduce SHIB's circulating ￰6￱ its inception, the initiative has eliminated 410.75 trillion tokens from ￰7￱ 585.22 trillion SHIB tokens remain in ￰8￱ Activity Shows Revival Shibarium, the layer-2 blockchain solution for Shiba Inu , has experienced a notable uptick in daily ￰9￱ this month, the network processed between 2,000 and 5,000 transactions per ￰10￱ activity has pushed this number above 10,000 daily ￰11￱ these figures remain below the peak levels recorded at the beginning of the year, the upward trajectory indicates growing ecosystem ￰12￱ network activity often correlates with heightened interest in the underlying asset and can serve as a precursor to price ￰13￱ protocol's recovery suggests developers and users are actively building and interacting with applications on the ￰14￱ sustained activity could provide fundamental support for SHIB's valuation in the ￰15￱ significant development involves the amount of Shiba Inu held on centralized ￰16￱ data shows that just over 82 trillion tokens remain on trading platforms, approaching the four-year low recently ￰17￱ Exchange Reserves,