Shiba Inu's burn rate has soared by 28,554% in the past 24 hours, with 29,440,541 SHIB tokens permanently removed from circulation. This significant reduction brings the total circulating supply down to 589,247,248,075,555 SHIB. The price of SHIB increased by 2.45% to $0.00001049, while trading volume surged 79% to $175.6 million. The dramatic rise in the burn rate and trading activity suggests a decrease in selling pressure, as exchange inflows dropped over 62%. This community-driven initiative aims to enhance the token's value by creating scarcity, with recent price increases potentially signaling further gains.