Shiba Inu has been able to reclaim its position as the 14th largest cryptocurrency in the market following a tremendous run. The meme coin has mirrored the general market sentiment and has been able to embark on an upward rally that has seen it rise double-digits in the last two days. The recovery in SHIB’s price is partly attributed to the fact that Bitcoin was able to clear the $30,000 else on Wednesday. However, on its own, the digital asset has also seen some developments that have contributed to the bullish sentiment among community members, leading to more buying activity compared to the sellers. Shiba Inu Burn Ramps Up The Shiba Inu burn has been in motion for about two years now as community members work toward reducing the number of total SHIB tokens in circulation. The first significant burn was that of Ethereum founder Vitalik Buterin which saw him burn around half of the total supply sent to him, leading to a massive rally. Related Reading: US Bitcoin Investor Trading Volume Rises, Stage Set Fo ..
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