Shiba Inu Steals Showcase, Soars 9.2%, Leaves Bitcoin Behind in Weekly Price Rally Last week, Shiba Inu (SHIB) coin even surpassed the top 10 cryptocurrencies, posting a strong 15% growth and attracting the attention of the cryptocurrency community. The significant increase in the price of SHIB is closely related to its current burn rate, which has increased significantly in the past 24 hours. According to Shibburn data, a total of 111,799,146 SHIB tokens were burned, a massive 57% spike based on the latest update. Throughout the week, SHIB’s burn rate has shown a consistent upward trend, closely tied to its favorable price trajectory. The observed consistent pattern indicates the likelihood of a steady and sustained increase in asset prices over an extended period of time. This can be attributed to the natural expansion of transaction volume within the Shiba Inu ecosystem. Amid current market trends, SHIB is demonstrating its ability to transcend its origins as a memecoin by showing resilience, as evidenced by a massive 9.2% price increase over the past 48 hours, leading to a value of $0.00001010. Bitcoin was trading at $29,383, down 0.1 percent over the past 24 hours, after gaining 1.3 percent over the past seven days, data on Sunday showed. The current increase in value is a notable achievement for SHIB, as it has shown continued development over the previous week. Additionally, the upcoming launch of Shibarium, a Layer 2 protocol with advanced features built on the Ethereum network, is helping to boost expectations and price increases for SHIB. The substantial increase in SHIB positions and market value indicates the influx of a large amount of funds. The historical context is interesting because it generally coincides with how Bitcoin's price fluctuates. (Data source: Yuna Rin)