Shiba Inu (SHIB), a popular memecoin, saw a burn rate increase of over 3000% in the past 24 hours, resulting in the destruction of 472,351,642 $SHIB tokens. Despite the decline in market cap, positive indicators such as whale transactions and token circulation have renewed interest in Shiba Inu.

The price of SHIB currently stands at $0.00000758, significantly lower than its all-time high of $0.00008845. Shibarium mainnet release and Worldpaper are expected to be launched in August, which has caused a surge in the price of Shib layer-2 blockchain Shibarium gas token Bone ShibaSwap (BONE) by over 35.49% in the past week.