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Shiba Inu, the self-proclaimed Dogecoin killer, has curated an enormous wave of frenzy within the broader crypto market as it recently experienced a substantial surge in price.
Furthermore, the token noted a fall in the burning of tokens over the past twenty-four hours, sparking curiosity among crypto market fanatics.
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Conversely, the token also caught the eyes of crypto traders and investors alike as it recently overtook Litecoin (LTC) and Dai (DAI) cryptocurrencies in global crypto rankings by market cap.
SHIB Burn Plunges As Shiba Inu Catapults It’s Ranking
According to the data unveiled by Shibburn, a platform offering SHIB burning insights, the Shiba Inu crypto community recorded a substantial plunge of 100% in the burning of tokens in the past 24 hours.
Furthermore, as per the data, 1.14 million SHIB was burnt over the past day.
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The recent fall in the burn rate appears to come concurrent to the recent advancement made by the SHIB token, where-in it overtook LTC and DAI to emerge as the 16th largest cryptocurrency by market cap.
Over the past few months, the Shiba crypto community has been constantly burning colossal amounts of tokens to jack up the SHIB tokenomics.
Besides, the token also noted a significant price surge over the past 24 hours amid the abovementioned saga, stirring up speculation among crypto market traders and investors.
Also read: Sam Altman Reveals Ambitious Restructuring Plans For OpenAI
Shiba Inu Price Soars
As of writing, the Shiba Inu Price witnessed a substantial upswing of 10.38%, evaluating $0.00000992. Moreover, the token’s price also recorded a weekly surge of 18.76%, accompanied by a monthly thrust of 21.23%.
Meanwhile, as the token overtook LTC and DAI by market capitalization, the SHIB circulating supply observed a 10.17% increase, reaching $5.83 billion while writing.
The surge in the Shiba Inu’s price also prompted an increase in several tokens encompassed within the SHIB ecosystem. Interestingly, the LEASH price experienced a concurrent surge to SHIB, rising 1.61% in the past 24 hours, reaching $326.84. Besides, the Bone ShibaSwap (BONE) price also noted a marginal upswing of 4.25%, reaching $0.7576 while writing.
Additionally, one of the leading crypto investors, SHIB KNIGHT, recently issued a statement proclaiming that December appears to be a month for dog coins. The statement comes forth as a result of cryptocurrencies like DOGE and SHIB witnessing a rally within the broader crypto market.
Also read: Dogecoin Price Skyrockets Ahead Of DOGE’s 10th Anniversary, What’s Next?
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- Source: https://coingape.com/shiba-inu-price-soars-as-shib-surpasses-ltc-and-dai/
