Shiba Inu Price Soars 10% as Meme Coin Rally Continues

Shiba Inu's price surged by almost 10% over the past 24 hours, reaching $0.00000601, and testing a resistance level that has capped every rally since May.

The token's burn rate collapsed by 97.48% in the past 24 hours after a sharp spike on September 19, suggesting the current price move is tied to the broader meme coin rally rather than SHIB-specific burn activity.

Shiba Inu's spot exchange netflow turned positive again this week, adding $1.49 million on September 21, indicating more supply positioning for potential selling.

The token's September return sits at +18.5% month-to-date, already exceeding its historical average of +5.35% and median of +0.83% across prior years.