Shiba Inu Price Soars on Record Token Burns

Shiba Inu's price surged by nearly 4% over the past 24 hours and more than 17% on the week, making it one of the strongest performers in the sector.

The meme coin's rally is being supported by record token burns, with Shibburn reporting that nearly 2.98 billion SHIB were permanently removed from circulation over the past seven days, marking the largest weekly burn recorded in roughly one year.

This surge in token burns has historically strengthened investor sentiment during periods of bullish momentum and reinforces Shiba Inu's deflationary narrative.