In 2024, Shiba Inu's price has gone up by 53%. This is more than Bitcoin's 48.99% increase, which got a boost when a special Bitcoin fund started in January. It's also more than Ethereum's 36.68% rise, helped by a similar fund in July. Even Dogecoin, another popular "meme" coin, only went up by 29.31%, so Shiba Inu did even better.
Shiba Inu has also been burning a lot of its tokens. Burning means destroying tokens so they can't be used anymore. In just the last day, over 14 million SHIB tokens were burned. This helps make the remaining tokens more valuable. The rate of burning has jumped by an amazing 2611.94%. Big burns included transactions of 4.9 million, 9 million, and 1 million SHIB tokens.
Even though SHIB's price has dropped a little recently, with a 6.15% fall in the last 24 hours, it still has a strong community. The price is currently around $0.00001518, and the market cap is $8.94 billion. The Shiba Inu community is excited about the future and continues to reduce the number of tokens, hoping this will make SHIB more valuable in the long run.
