Shiba Inu (SHIB) Aims to Expand Its Reach in the Crypto Market

• SHIB transferred 7,658,708 tokens to the dead wallet.
• The recent burn resulted in a price surge.

Shiba Inu (SHIB), the popular memecoin, has continued to take center stage in the crypto market. Recently, SHIB has shown significant burns in the last 24 hours. The rise in the burn rate increased curiosity among investors.

6,658,708 $SHIB -> transferred to dead wallet. https://t.co/jeNSrpXBTE

— Shibburn (@shibburn) June 6, 2023

Shibburn, the SHIB burn tracker, reported that there are 7,658,708 Shiba Inu tokens were burned in the last 24 hours. This significant burn had a potential impact on the memecoin. Moreover, the continuous burn has raised questions among the crypto community.

According to the report, the recent burn has involved two transactions. In the first transaction, 6,658,708 SHIB tokens transferred to the dead wallet. Following that, 1,000,000 Shiba Inu tokens burned. The recent burn resulted in a price surge.

At the time of writing, the trading price of Shiba Inu is around $0.000008147, with an increase of 1.92% in the past 24 hours. The trading volume of SHIB has witnessed a decline of 34.70%, according to CoinMarketCap.

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