Shiba Inu (SHIB) burns surge amid market recovery

The Shiba Inu (CRYPTO:SHIB) community is currently abuzz due to a notable increase in the meme coin's burn rate, a move that has quickly become the center of discussion within its ecosystem.

This uptick in burning activity has coincided with a significant recovery in SHIB's market price.

The cryptocurrency had experienced a steep price drop over the past week as investors capitalised on gains, leading to a flurry of profit-taking.

However, the recent surge in SHIB burns appears to have injected new momentum into its valuation, sparking optimism among holders and enthusiasts of the digital currency.