June 21 (Cointime) - Shiba Inu (SHIB) has experienced a 3.28% surge in the past 24 hours, bringing its spot price to $0.000007412 and erasing all losses from the previous week. Despite being a meme coin, SHIB has a vibrant developer community and is actively working on the Shibarium protocol to add value to its ecosystem.

The price surge can be attributed to both market sentiment and SHIB's deflationary burn rate. However, SHIB's volatility and competition in the ecosystem may lead to a bearish rebound in the short term, but the emergence of Shibarium on the mainnet could increase the token's value in the long term.