Is This Why Shiba Inu’s (SHIB) Price Soared 23% Daily? (Details)

TL;DR

• Shiba Inu (SHIB) surged 23% in 24 hours, potentially fueled by an explosion in its token burn rate (33,800% increase) and progress on its layer-2 solution, Shibarium.
• Despite analyst predictions of significant price gains, reaching targets like erasing two zeroes from SHIB’s valuation would require a highly improbable market cap of $800 billion.

Climbing the Crypto Ladder

Shiba Inu (SHIB) has been the best-performing cryptocurrency in the past 24 hours (from the top 100 club), registering a 23% price increase. It currently trades at approximately $0.00001895 (per CoinGecko’s data), a level last observed mid-July.